Running counter to prevailing trends, the $1.4 billion Texas Dow Employees Credit Union detailed Thursday what it described as an "aggressive expansion and growth" plan encompassing five new branches in east Texas for 2010.
TDECU, with 19 facilities and based in Lake Jackson, said it already opened one of its branches in Edna a week ago and has a new "footprint" now with facilities in Port Lavaca and West Columbia. Other branches opening in the spring includes those in Victoria and Cuero.
In a press statement, Ed Speed, president/CEO, acknowledged it has been a "tumultuous year for the financial industry" but TDECU has managed to weather "the uncertain climate and solidified its position."
"More importantly, TDECU plans to expand its presence in the competitive market of Houston with the opening of a new branch in Pearland, slated for late spring 2010," said TDECU noting other openings include branches in Wharton and Bay City.
As a result of these efforts, and a commitment to "high touch, personalized service, TDECU has seen a jump in its membership numbers," said Speed. TDECU has 120,000 members though the actual increase was not spelled out.
"At a time when others in the financial industry retrenched, we chose instead to come out in full force," concluded Speed.
