Security One Federal Credit Union Members Approve Merger with Texas Trust Credit Union
Mansfield, TX, August 31, 2013 --(PR.com
)-- Marking the next step in the merger of the two credit unions, members of Security One Federal Credit Union voted in favor of merging with Texas Trust Credit Union Wednesday night at a special member meeting. The merger has been approved by the National Credit Union Administration and is expected to be approved by the Texas Credit Union Department.
Moving forward, Texas Trust Credit Union will assume Security One's assets and liabilities and its 25 employees will join the Texas Trust team. Pamela Stephens, president of Security One, will become Executive Vice President and Chief Strategic Officer of Texas Trust, overseeing the conversion process and major projects going forward.
The two existing Security One branches will be rebranded as Texas Trust. The consolidation of members and branches into Texas Trust is expected to be complete by the end of the year.
The combined credit union will have assets in excess of $815 million, more than 65,000 members, and 13 branches, making it the 18th largest credit union in Texas and the 264th largest in the U.S.
Members of the two credit unions will benefit through more convenient financial services, including more branches, mobile and online banking, an expanded surcharge-free ATM network, an in-house loan department offering mortgages and auto loans, and investment products and services. Texas Trust also offers an independent insurance agent and small business financial services, including SBA lending.
"This merger gives Security One members access to more financial services that can help them realize their financial goals and dreams," said Jim Minge, CEO of Texas Trust Credit Union. "Our member first philosophy will make Security One members feel right at home."
About Texas Trust Credit Union
Texas Trust, one of the largest credit unions in North Texas and the 21st largest in Texas, provides financial services that enable members to build brighter financial futures. It has been operating for more than 75 years. As a full-service financial institution, Texas Trust offers checking, savings, mortgages, credit cards, CDs, Money Market accounts, IRAs, and investment and insurance services. Its business services include SBA and conventional loans, electronic payment cards, checking and money market accounts, merchant card processing, online banking, insurance, and the Employee Solutions Network. With assets of more than $760 million, Texas Trust operates in Dallas, Tarrant, and Henderson counties, as well as parts of Ellis and Johnson counties. It has 11 branches located in Mansfield, Grand Prairie, Arlington, Cedar Hill, Hurst, and Athens. Texas Trust is a federally insured financial institution. Deposits up to $250,000 are insured by the full faith of the federal government through the National Credit Union Administration (NCUA). For more information, visit www.TexasTrustCU.org.