RICHARDSON, Texas—Texans CU posted its third consecutive year of growth under NCUA’s control, showing 2014 net income of $21.7 million.
The CU, which NCUA placed into conservatorship in April 2011, last year showed growth in loans and net worth. The credit union’s consumer and real estate loan portfolios grew by more than $31 million and $27 million, respectively. Total assets at the end of the year stood at more than $1.4 billion and net worth was 4.49%.
“Texans took a large step forward this past year,” said C. Keith Morton, NCUA Region IV director and agent for the conservator. “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.”
NCUA placed Texans into to address service and operational weaknesses, the agency reported. Texans, chartered in 1953, operates 13 branches in the Dallas metropolitan area.