Texas Trust Credit Union recently surpassed the billion-dollar mark, but asset size is just the tip of the iceberg of the Arlington, Texas-based credit union’s growth.
Over the last five years, the credit union has also seen a 26% increase in real estate loans, a 66% increase in membership, a whopping 204% increase in auto loans and a 127% increase in credit cards. To support all this growth, the newly minted $1 billion credit union also invested in nine new branches during that time period, for a total of 17 facilities.
This five-year focus on growth came about as a challenge from the board of directors to the then-new CEO Jim Minge.
“Our mission is to build brighter financial futures for our members," said Board Chairman Larry Skinner in a statement. "Our leadership team has achieved this by expanding our footprint, strengthening community relationships, and enhancing our product offerings, all while observing sound fiscal practices.”
The CU put a full-court press on the largest city in its field of membership, adding two in-school branches in Arlington, Texas, as well as moving its corporate headquarters there.
Overall, the credit union has grown by more than 33,000 members since 2011 with a total membership exceeding 84,500.
Also helping to fuel this growth were two key mergers with Arlington-based Security One Federal Credit Union in 2013 and Midlothian-based TrustUS Federal Credit Union in 2016.
“Our leadership team continues to drive toward creating happy, motivated employees who help us cultivate happy, loyal members,” said Minge, President and CEO. “The first billion dollars is a colossal milestone, one that took us 80 years to reach. We are already hard at work toward that next billion.”
Texas Trust also cited a number of strategic additions to its menu of products and services, joining a surcharge-free ATM network and investing in a number of technological upgrades as key steps along its path toward the billion-dollar mark.