DALLAS — Texas Credit Union Commissioner Harold Feeney said his agency is working closely with the $2 billion Texans Credit Union after the institution has taken substantial hits in its construction and development portfolio.
According to data from NCUA, Texans' member business loans granted grew from $104 million at the end of first quarter 2007 to $289.7 million by the end of the third quarter, a 179% increase. Business loan purchases during same period increased from $19.4 million to $113.9 million, a 487% spike.
Since year-end 2007 through the end of the first quarter 2008, the credit union's member business loans dropped from $311.2 million to $15.6 million, a 95% plunge.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
