The NCUA said Friday night that it had placed Texans Credit Union of Richardson into conservatorship.
Texans Credit Union currently has 133,000 members and assets of $1.6 billion. The serves Collin, Dallas, Rockwall, Travis, and Williamson, as well as parts of Denton County in Texas. The credit union remains open for business under NCUA oversight and will as the agency continue to resolve issues of safety and soundness.
Texans had experience large losses in its business lending portfolio over the last couple of years as well as several legal battles concerning its CUSOs. Texans' former CEO David Addison resigned near the beginning of the large credit unions' troubles.
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