Texas Trust CU Launches Charitable Foundation

The $1.7 billion Texas Trust Credit Union in Arlington has launched its own charitable foundation – the Texas Trust Gives Foundation, a 501(c)(3) non-profit that will serve as the charitable arm of the credit union and operate separately with its own board of directors and leadership team, Texas Trust announced Wednesday.

The work of the Foundation will include providing grants and scholarships to local schools and organizations that improve the well-being of the community and help build brighter financial futures, according to the credit union. School districts located in the communities where Texas Trust has a branch presence, which include 11 cities in the Dallas-Fort Worth metropolitan area, can apply for grants from the Texas Trust Gives Foundation from Feb. 1 to March 31.

Funding for the Foundation will stem from members’ use of a Texas Trust debit card – every time a member uses the debit card, the credit union makes a donation to the Foundation. Based on the number of current debit cardholders and their average purchase volume, the credit union said the Foundation expects to raise more than $150,000 annually to channel back into the community.

Washima Huq, business and community engagement partner for Texas Trust, will lead the foundation as executive director. Huq was recently named the 2021 Young Professional of the Year by the Cornerstone League at its annual Young Professionals Conference in Dallas.

“Supporting our communities is the core of what the Foundation is about,” Huq stated. “The Texas Trust Gives Foundation will fund initiatives that enhance the education experience for children and make a positive difference in the lives of those being served by the numerous organizations we will support.”

Jim Minge, CEO of Texas Trust, added, “We are looking forward to working alongside the Foundation to be able to do more for the community. Together with Washima and her team we’ll be able to have a greater impact on the people served through the organizations the Foundation supports.”

Texas Trust’s previous community giving initiatives have included donating to local schools and non-profits such as Mission Arlington, the North Texas Food Bank and the American Cancer Society. The credit union has also donated more than $2 million toward local school programs.