Texas Trust CU exceeds $1 billion in deposits

Texas Trust Credit Union in Arlington, Texas, has joined the small number of credit unions that have more than $1 billion in deposits.

The credit union has seen steady growth in the last eight years – growing overall deposits by 70 percent – strengthening its financial position to achieve this milestone.

The 118,000-member credit union is now ranked in the top 5% of U.S. credit unions, based on deposit size and is No. 17 in Texas.

Texas Trust’s focus on growing its deposits began when President and CEO Jim Minge joined the credit union in 2011. The credit union increased its member base through checking and savings products aimed at a larger number of consumers. This allowed Texas Trust to offer new and more appealing products, which successfully increased membership and the deposit base. Since implementing this new strategy, the credit union’s general savings and checking account deposits has grown by 175 percent.

This growth has also helped Texas Trust expand its services, offer highly competitive rates for loans and savings, and launch member-friendly products such as Bonus checking, which rewards members for usage.

“We have been steadfast in our focus to organically grow deposits over the last eight years,” said Minge. “This is a significant achievement since consumers have so many choices about where to bank today. We appreciate every member who puts their money and faith in Texas Trust, and the service we provide.”

He added, “By helping our members keep more of their money and assisting them with building brighter financial futures, we’ve been able to reach this deposit milestone.”

About Texas Trust Credit Union
Texas Trust Credit Union has been helping build brighter financial futures since its 1936. Today, the full-service credit union serves more than 118,000 members. With a focus on the community, Texas Trust is creating a legacy of giving through generous financial donations that support local school programs and activities, nonprofit organizations, and student scholarships and by providing volunteer resources through its Community Unity team, which supports many charitable events each year. For more information, visit TexasTrustCU.org.