Texas credit unions overall are faring well, with the notable exception of Texans Credit Union and its overextension on business loans according to the newest member of the Texas Credit Union Commission.
Gary Tuma, president/CEO of the $450 million Smart Financial CU of Houston, was named to the oversight panel by Gov. Rick Perry, the credit union announced Wednesday.
Tuma said Lone Star State credit unions "have survived the recession in so much better shape" than their peers in the sand states even amidst scrutiny over CU business lending, a fallout of NCUA's April 15 conservatorship of the $1.6 billion Texans, based in the Dallas suburb of Richardson.
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