Over the next five years, Texas Dow Employees Credit Union is expecting all of its CUSOs to continue to represent a significant portion of the cooperative's overall earnings.
The $1.7 billion financial institution in Lake Jackson, Texas, recently made a step in that direction by forming an entity to align its four subsidiaries for growth and expanding their respective business lines. Through the launch of TDECU Holdings LLC, the credit union has brought TDECU Insurance LLC, TDECU Wealth Advisors, TDECU Real Estate LLC and Century Oaks Title LLC under one management roof. With the new structure, the credit union's interest in the CUSOs will be held by the holding company, which is scheduled to debut Jan. 1, 2012.
The goal is to make management of the CUSOs more efficient and transparent, said Timothy Belton, who will serve as president/CEO of TDECU Holdings as well as CEO of TDECU Insurance Agency and TDECU Real Estate.
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