5Point Credit Union, located near the FM 1488 and Spur 149, is set to open this spring, the company confirmed via email.

“5Point began its Montgomery County operations in 2015 and is excited to grow our presence even more in the Magnolia community,” President and CEO Erik Shaw said via email. “The recent development along FM 1488 and Spur 149 made this spot a great choice for our newest location.”

The financial institution’s offerings include deposit accounts and loan products.

“5Point Credit Union is an active member of the Magnolia Community, serving as a strong supporter of Magnolia ISD, the Magnolia Education Foundation, and the Greater Magnolia Parkway Chamber of Commerce,” Shaw said.