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Texas CU in Conservatorship Posts Continued Growth in 2014
Thursday, January 29, 2015 6:50 AM

The National Credit Union Administration reported yesterday on Texans Credit Union, the state-chartered, federally insured credit union operating under its conservatorship since April 2011.

Texans reported a continuing growth trend, posting year-end 2014 net income of $21.7 million and marking 36 consecutive months of positive earnings. The credit union's consumer and real estate loan portfolios grew by more than $31 million and $27 million, respectively. Total assets at the end of the year stood at more than $1.4 billion. Texans' net worth ratio at year's end was 4.49 percent.

"Texans took a large step forward this past year," said C. Keith Morton, NCUA Region IV Director and Agent for the Conservator. "The staff and the leadership team continue to produce solid, positive results. All signs show that Texans is positioned to continue its growth and maintain an institutional culture that will offer excellent service to its members in 2015."

NCUA placed Texans into conservatorship to address service and operational weaknesses, and 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 112,000 members in North Texas. Deposits at Texans Credit Union remain protected up to the prescribed limits of the National Credit Union Share Insurance Fund.

Texans, chartered in 1953, operates 13 branches in the Dallas metropolitan area. Membership is open to individuals and their family members who live, work, or attend school in Collin, Dallas, Grayson, Rockwall, Travis, and Williamson counties and parts of Denton County. Texans also serves select employee groups within the credit union's field of membership, including Texas Instruments, Raytheon, and Ericsson. For more information, visit www.texanscu.org.