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June 17, 2016
Texans CU emerges from conservatorship
Texans Credit Union in Richardson, Texas, is back in members' control after a five-year conservatorship, NCUA announced Friday.
The federally insured credit union was placed into NCUA conservatorship in April 2011. It's the first to emerge from conservatorship this year.
NCUA said it worked successfully with the Texas Credit Union Department to mitigate the credit union's exposure and risk from troubled assets and to revitalize its operations. Texans' net worth position grew by more than $100 million since the end of 2011.
"This is a real success story, and much of the credit goes to the hard work of Texans' leadership team, credit union staff and its members," NCUA Board Chairman Rick Metsger said. "Working collaboratively with the agency, Texans' leadership and staff restored their credit union's financial health, revamped operations and provided critical services to members. As a result, the credit union is now on a sound foundation."
Texans was chartered in 1953 and serves more than 111,000 members in the counties of Dallas, Collin, Rockwall, Travis and Williamson, Texas. It has 13 branches and assets of more than $1.5 billion.
The federally insured credit union was placed into NCUA conservatorship in April 2011. It's the first to emerge from conservatorship this year.
NCUA said it worked successfully with the Texas Credit Union Department to mitigate the credit union's exposure and risk from troubled assets and to revitalize its operations. Texans' net worth position grew by more than $100 million since the end of 2011.
"This is a real success story, and much of the credit goes to the hard work of Texans' leadership team, credit union staff and its members," NCUA Board Chairman Rick Metsger said. "Working collaboratively with the agency, Texans' leadership and staff restored their credit union's financial health, revamped operations and provided critical services to members. As a result, the credit union is now on a sound foundation."
Texans was chartered in 1953 and serves more than 111,000 members in the counties of Dallas, Collin, Rockwall, Travis and Williamson, Texas. It has 13 branches and assets of more than $1.5 billion.
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