San Antonio Credit Union Drives to $6 Billion in Loans
In Texas, it’s no secret that going big is the likely way to go in the Lone Star state.
It’s here that one is more apt to find a cooperative such as the $6.7 billion Security Service Federal Credit Union that has a loan portfolio equal to the size of its assets – $6 billion.
With its vast open spaces, Texas is known for its commercial lending opportunities. It was here that the $1.4 billion Texans Credit Union built a commercial real estate empire securing deals worth millions both in and outside the state. It was also here that the cooperative succumbed to the weight of loan losses and fell into conservatorship in April 2011. The NCUA reported in May that Texans is on the road to recovery and turned a profit for the first time since 2007 after refocusing on consumer loans and shutting down unprofitable branches.
Ensweiler said credit unions throughout Texas weathered well during the economic recession, and stand poised to meet the financial services of their members and community.