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Security One FCU Members Approve Merger with Texas Trust CU
Thursday, August 29, 2013 11:00 AM

Marking the next step in the merger of the two credit unions, members of Security One FCU voted in favor of merging with Texas Trust CU Wednesday night at a special member meeting. The merger has been approved by the National Credit Union Administration (NCUA) and is expected to be approved by the Texas Credit Union Department.

Moving forward, Texas Trust CU will assume Security One's assets and liabilities and its 25 employees will join the Texas Trust team. Pamela Stephens, president of Security One, will become executive vice president and Chief Strategic Officer of Texas Trust CU, overseeing the conversion process and major projects going forward.

The two existing Security One branches will be rebranded as Texas Trust. The consolidation of members and branches into Texas Trust is expected to be complete by the end of the year.

The combined credit union will have assets in excess of $815 million, more than 65,000 members, and 13 branches, making it the 18th largest credit union in Texas and the 264th largest in the U.S.

Members of the two credit unions will benefit through more convenient financial services, including more branches, mobile and online banking, an expanded surcharge-free ATM network, an in-house loan department offering mortgages and auto loans, and investment products and services. Texas Trust also offers an independent insurance agent and small business financial services, including SBA lending.

"This merger gives Security One members access to more financial services that can help them realize their financial goals and dreams," said Jim Minge, CEO of Texas Trust CU. "Our member first philosophy will make Security One members feel right at home."