Pegasus Community Credit Union was chartered in 1935 as Magnolia Federal Credit Union. Its original field of membership was limited to employees of Magnolia Oil Company. In subsequent years, the credit union grew, prospered and became the credit union of choice for Mobil Oil Corporation employees. Today, membership eligibility extends well beyond those original boundaries. Yet, the credit union retains its commitment to quality service as well as its heritage under the banner Pegasus. Members take pride in the fact that the credit union is large enough to serve their financial needs effectively, yet small enough to care for on an individual basis. Pegasus Community Credit Union is federally insured by the National Credit Union Administration. Membership required for products and services. Equal Housing Lender.