Texas Trust Credit Union Buys Office Park with Plans to Become a $1 Billion Credit Union
Kristine Tanzillo, Texas Trust Credit Union
MANSFIELD, Texas – August 14, 2012 – Texas Trust Credit Union has embarked on the next phase of its growth strategy with the purchase of an office park. The $721 million credit union has purchased two buildings in Arlington, Texas, which will serve as the new corporate headquarters as well as a long-term financial investment.
The office park, currently known as Cordovan Park, consists of 78,660 square feet of office space along Interstate 20 just east of U.S. 287. It has a 66 percent occupancy level. Texas Trust will initially occupy a small footprint, with plans to occupy 50 percent or more of the total space within the next three to five years.
The new headquarters facility is an integral part of Texas Trust’s four-year plan. By 2016, the credit union plans to nearly double its membership from 58,000 to 100,000 and be a $1 billion credit union.
“The new facility gives us room to grow, which means we will be able to add employees and new services and products, so that we can better serve our current members and grow our membership,” said Jim Minge, president and CEO of Texas Trust Credit Union.
Texas Trust plans to move several corporate functions, such as marketing, to the new space within the next 90 days. The remainder of the corporate staff will move in phases, starting in 2013.
In addition to the new headquarters facility, Texas Trust is expanding its full service branches this year. In March, it opened its ninth branch, at 3060 West Camp Wisdom Road in Grand Prairie. Its tenth branch, in Mansfield, will open at the end of September.
Texas Trust has more than 200 full-time employees and 58,000 members. It has branches in Arlington, Cedar Hill, Grand Prairie, Mansfield, and Athens.
About Texas Trust Credit Union
Texas Trust is one of the largest credit unions in North Texas and the 21st largest in Texas. It has been operating for more than 75 years. As a full-service financial institution, Texas Trust offers checking, savings, mortgages, credit cards, CDs, Money Market accounts, IRAs, and investment and insurance services. Its business services include SBA and conventional loans, electronic payment cards, checking and money market accounts, merchant card processing, online banking, insurance, and the Employee Solutions Network. With 58,000 members and assets of more than $721 million, Texas Trust operates in Dallas, Tarrant, and Henderson counties, as well as parts of Ellis and Johnson counties. Texas Trust has eight branches located in Mansfield, Grand Prairie, Arlington, Cedar Hill, and Athens. For more information, visit www.TexasTrustCU.org. Texas Trust is a federally insured financial institution. Deposits up to $250,000 are insured by the full faith of the federal government through the National Credit Union Administration (NCUA).