Texas CUs Among Leaders in CUSO Investments
When it comes to the most investments and loans in CUSOs, three Texas credit unions have the distinction of being in the top five ranking.
According to data as of Sept. 30 from Callahan & Associates, the $1.6 billion Texans Credit Union topped the list at nearly $174 million followed by the $1 billion Credit Union of Texas at $70 million. Holding the fifth spot on the list is the $680 million Texas Trust Credit Union.
Two California cooperatives, the $2.6 billion Wescom Credit Union and the $8.3 billion SchoolsFirst Federal Credit Union, had the greatest number of CUSO investments at 16 and 13, respectively. The $4.9 billion America First Credit Union in Utah shared the top spot with Wescom, also with 16 CUSO investments.
Overall, credit union investment in CUSOs has increased steadily since 2005 growing from $695.9 million to more than $1.2 billion as of the second quarter of 2010, according to Callahan.