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TDECU Denied Broad FOM Bid But Pursing 'Alternatives'

LAKE JACKSON, Texas -- The president/CEO of Texas Dow Employees Credit Union said Thursday he is "understanding" of the state's scale back this month of the CU's attempt to broaden its field of membership into six Texas counties which included metro Houston's Harris County.

By Jim Rubenstein | Updated on October 16, 2008

LAKE JACKSON, Texas — The president/CEO of Texas Dow Employees Credit Union said Thursday he is “understanding” of the state’s scale back this month of the CU’s attempt to broaden its field of membership into six Texas counties which included metro Houston’s Harris County.

“Because there are federals which have whole counties, we were unaware there were limits on state charters but we will be pursuing alternatives,” explained Ed Speed, head of the $1.3 billion TDECU whose extended FOM expansion was denied by Texas Credit Union Commissioner Harold Feeney.

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