Texans Credit Union reports continued growth in 2014
Yearly Financials Show Loans and Net Worth Improving
RICHARDSON, TX (January 27, 2015)– Texans Credit Union continued its growth trend in 2014, with growth in loans and net worth, the credit union reported today.
Texans, a state-chartered, federally insured credit union operating under the conservatorship of the National Credit Union Administration, posted year-end 2014 net income of $21.7 million and marked 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 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 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, Williamson counties and parts of Denton County. Texans also serves select employee groups within the credit union’s field of membership. Texans additionally serves employees of various companies in the credit union’s field of membership, including Texas Instruments, Raytheon and Ericsson. For more information, visit www.texanscu.org.
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, NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of more than 98 million account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions. At MyCreditUnion.gov and Pocket Cents, NCUA also educates the public on consumer protection and financial literacy issues.