Texas Trust Credit Union exceeds $1 billion in deposits
ARLINGTON, TX (June 3, 2019) — Texas Trust Credit Union has joined the small number of credit unions that have more than a billion dollars 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 five percent of U.S. credit unions, based on deposit size, and is number 17 in Texas.
Texas Trust’s focus on growing its deposits began when President Jim Minge joined the credit union in 2011. The credit union emphasized growing 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 both membership and the deposit base. Since implementing this new strategy, the credit union’s general savings and checking account deposits grew by 175 percent.
The growth of deposits through a broader member base has 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, the credit union’s President and CEO. “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.”
“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,” Minge said.
About Texas Trust Credit Union
Texas Trust Credit Union has been helping build brighter financial futures since its modest beginning in 1936. Today, the full-service credit union serves more than 137,000 members. With assets of more than $2 billion, Texas Trust is the 7th largest credit union in North Texas and the 18th largest in Texas. 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, non-profit organizations, and student scholarships; and by providing volunteer resources through its Community Unity team, which supports scores of charitable events each year.
