Positive Financial Results, New Products and Services Show Ongoing Progress
RICHARDSON, Texas (Jan. 24, 2013) – Texans Credit Union (Texans) showed continued progress in 2012, reporting a net worth ratio gain of 161 basis points for the year ending Dec. 31.
Texans, which operates under the conservatorship of the National Credit Union Administration (NCUA), posted year-end 2012 net income of $24.17 million. Total assets at the end of the 2012 stood at $1.43 billion, up from $1.42 billion at year-end 2011. With the improvement of 161 basis points, Texans’ net worth ratio at year’s end was 2.68 percent.
“We’ve restructured Texans, while continuing our focus on member service and attracting top-notch talent,” said C. Keith Morton, NCUA Region IV Director and Agent for the Conservator. “As we begin 2013, we are encouraged by the credit union’s positive financial results and look forward to many new product and service enhancements, such as remote deposit capture, online account opening and debit card purchase rewards.”
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 118,000 members in North Texas. Deposits at Texans Credit Union remain protected up to $250,000 through NCUA’s National Credit Union Share Insurance Fund.
Texans, which celebrates its 60th anniversary this year, operates 14 branches in the Dallas metro 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. 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 U.S. Government, NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of more than 97 million account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions. At
Pocket Cents, NCUA also educates the public on consumer protection and financial literacy issues..