Texas

REGULATING AGENCY: Texas Credit Union Department

Texas State Capitol

  • Michael Riepen, Commissioner (Effective October 1, 2022)
  • Robert Etheridge, Deputy Commissioner
  • Website: cud.texas.gov
  • Newsletter

ACCREDITED: 1996

LEAGUE: Cornerstone League

PRIVATE SHARE INSURANCE: YES

STATS: (As of Q4 2021)

Total Number of Credit Unions: 430

  • TOTAL # SCUs: 175
  • TOTAL # FCUs: 255
  • SCU % OF TOTAL (SCUS #/STATE TOTAL #): 41%

Total Assets: $139,365,790,705

  • TOTAL $ SCU ASSETS: $56,151,471,735
  • TOTAL $ FCU ASSETS: $83,214,318,970
  • SCU % OF TOTAL ASSETS (SCUS $/STATE TOTAL $): 40%

Total Members: 9,817,170

  • TOTAL Members SCUs: 4,160,589
  • TOTAL Members FCUs: 5,656,581
  • SCU % OF TOTAL (SCUS/STATE TOAL): 42%

FUN FACT: Texas has had six separate flags flying over it, including Spain, France, and Mexico. Additionally, Texas was an independent nation between 1836 to 1845


RECENT NEWS

Texas Credit Union Commission Announces New Credit Union Commissioner

The Texas Credit Union Commission is pleased to announce the agency has a new commissioner, Michael Riepen, effective October 1, 2022. The Credit Union Department is the State agency charged with the responsibility to supervise, regulate and examine Texas State-chartered credit unions in order to safeguard the public interest, protect the financial interest of credit union members, and promote public confidence in credit unions.

Jim Minge, Chair of the Credit Union Commission noted, “Mr. Riepen is uniquely qualified to lead the Department given the breadth and depth of his knowledge about the credit union system and his keen sense of emerging issues in the financial services marketplace.”

Mr. Riepen, prior to his recent retirement, served as the Department’s Director of Examination Support. Prior to that, he served as President and CEO of Texas DPS Credit Union for 26 years. He holds an MBA in Finance from the University of Missouri-Columbia.

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