Texans Credit Union Reports Profitability
From shutting down unprofitable branches to refocusing its efforts on consumer loans, Texans Credit Union is hoping some of those moves will help bring it out of conservatorship.
Keith Morton, NCUA Region IV director, told Credit Union Times, that there is a strategic effort to focus on consumer lending at the $1.42 billion credit union that has been in conservatorship since April 2011. Morton is also the agent for the conservator.
“We’re getting good feedback from the members,” Morton said.
In the back office, among other divisions, redundant operations were eliminated. Morton said the emphasis is on improving the bottom line. In streamlining operations and reducing inefficiencies, every area was looked at to determine where cuts could be made to turn around net losses.