The $1.4 billion Texans Credit Union, operating under a conservatorship, posted year-end net income of $21.7 million for 2014.
According to the NCUA, Texans' net worth ratio was 4.49% at the end of the year. The NCUA said Texans has experienced 36 consecutive months of positive earnings, with its consumer and real estate loan portfolios growing by more than $31 million and $27 million, respectively.
The NCUA placed Texans into conservatorship in April 2011 to address service and operational weaknesses, the agency said.
Chartered in 1953, the Richardson, Texas-based credit union operates 13 branches and serves 112,000 members who live, work or attend school in Collin, Dallas, Grayson, Rockwall, Travis, Williamson counties and parts of Denton County. Employees of various companies such as Texas Instruments, Raytheon and Ericsson are also members of the credit union.
“Texans took a large step forward this past year,” C. Keith Morton, NCUA Region IV director and agent for the conservator, said. “The staff and the leadership team continue to produce solid, positive results. All signs show that Texans is positioned to continue its growth and maintain an institutional culture that will offer excellent service to its members in 2015.”
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