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Texans CU Reports Continued Positive Financial Results for 2013
Wednesday, January 29, 2014 6:50 AM

Texans CU reported strong financial results for 2013, expanding loans, shedding distressed assets and increasing its net worth ratio.

Dallas, Texas-based Texans CU, operating under the conservatorship of the NCUA, posted year-end 2013 net income of $23 million. The credit union’s consumer loan portfolio grew by more than $19 million. Total assets at the end of the year stood at more than $1.4 billion. Texans’ net worth ratio at year’s end was 3.64 percent. More than $200 million in distressed assets have been divested since early 2012.

“Consistent and sound financial management by the leadership team continued to produce strong results for Texans,” said C. Keith Morton, NCUA Region IV Director and Agent for the Conservator. “We’re pleased with Texans’ progress through the rebuilding process and especially with the outcome of 2013’s plan. The credit union is on the right path. In 2014, the credit union will continue to focus on members, introduce new services and operate efficiently.”

NCUA placed Texans into conservatorship in April 2011 to address service and operational weaknesses. Since then, NCUA, the management team and Texans’ employees have worked to dramatically improve the credit union’s financial condition and maintain services for the credit union’s more than 114,000 members in North Texas.