REGULATING AGENCY: Texas Credit Union Department
LEAGUE: Cornerstone League
STATS: (As of Dec 2020)
- TOTAL # SCUs: 176
- TOTAL # FCUs: 259
- SCU % OF TOTAL (SCUS #/STATE TOTAL #): 40% of 435 TX CUs
- TOTAL $ SCU ASSETS: $50,700,464,857
- TOTAL $ FCU ASSETS: $76,534,607,129
- TOTAL ASSETS: $127,235,071,986
- SCU % OF TOTAL ASSETS (SCUS $/STATE TOTAL $): 40%
FUN FACT: The Flagship Hotel on Seawall Boulevard in Galveston is the only hotel in North America built entirely over the water.
June 10, 2021
On Friday, June 4, 2021, Texas Senate Bill 707 was signed into law by Texas Governor Greg Abbott, extending the Credit Union Department of Texas operations until 2033.
The Texas Sunset Advisory Commission recommended the 12-year extension, stating, “Texas-chartered credit unions have fared well under the state’s current regulatory framework; the Sunset Commission again found the existing organizational structure is the best option and transferring the department would have no benefit at this time.”
John J. Kolhoff, Commissioner of the Credit Union Department, for the state of Texas, commented, “I would like to express my gratitude for the independent review by the Sunset Advisory Commission, the incredible efforts of our staff, the leadership of the Credit Union Commission and the support of the industry.”
Click here to take a look at the stories that have been collected over the years in Texas.
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