Control of Edinburg Teachers Credit Union returned to members
ALEXANDRIA, VA (January 27, 2023) — Edinburg Teachers Credit Union, located in Edinburg, Texas, is once again under the control of its members after release from conservatorship, the National Credit Union Administration and the Texas Credit Union Department announced today.
“Edinburg Teachers’ leadership and staff diligently worked to revitalize operations, update and reopen the credit union facility so members can conduct business in person, modernize the website, enhance lending services, and maintain a robust capital position,” NCUA Chairman Todd M. Harper said. “Their efforts, along with the hard work of NCUA employees and the Texas Credit Union Department, have led to a credit union that is now on a sound footing and will continue to provide essential financial services to its members. The newly seated board of directors are professionals from the community and eager to serve the membership. In short, Edinburg Teachers Credit Union is now set up for long-term success.”
Texas Credit Union Department took possession of Edinburg Teachers Credit Union in March 2021 and appointed the NCUA as conservator to ensure the credit union’s financial stability and safe-and-sound operation. Member services continued uninterrupted through the conservatorship.
Edinburg Teachers Credit Union is a federally insured, state-chartered credit union with more than 7,000 members and assets of more than $96 million. Edinburg Teachers Credit Union serves employees of many of the school districts in the Rio Grande Valley, Texas, the University of Texas Rio Grande Valley, several select employer groups, and persons located within 10 miles of the credit union’s offices.
About National Credit Union Administration (NCUA)
The NCUA is the independent federal agency created by the U.S. Congress to regulate, charter and supervise federal credit unions. With the backing of the full faith and credit of the United States, the NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of more than 124 million account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions. The NCUA also protects consumers and educates the public on consumer protection and financial literacy issues.