The $2 billion Texas Dow Employees Credit Union has partneredwith a local company to assist with growing its retirement andestate planning services division.

The Lake Jackson, Texas-based cooperative said its subsidiary,TDECU Wealth Advisors, has partnered with James E. Bashaw &Co., a financial services firm in Houston that offers financialplanning, insurance and retirement planning services to make ithappen.

In addition, JEB&Co. will provide compliance and back-officeoperational support, according to TDECU.

“Our wealth advisors team has been very successful at helpingour members plan and prepare for the future, and we want to take itto an even higher level as our members deserve the best,” saidStephanie Sherrodd, president/CEO of TDECU. “Working withJEB&Co. will help make that happen much faster by combining ourresources and talents.”

Marcie Casas, TDECU media spokeswoman, said there was“miscommunication communicated” in a local article that impliedthat the credit union was planning to sell TDECU Wealth Advisors toJEB&Co., she told Credit Union Times late Fridaybefore an official response was emailed on Sunday.

In 2013, TDECU said it expanded its presence significantly inthe Houston market with 18 branch locations available to servethose who live and work in the area. Particularly, indirect lendingand merchant lending helped with those expansion plans when loansin each area reached $402 million and $26 million, respectively, in2012.

Over the past few years, TDECU Insurance Agency LLC has bought several insuranceagencies.

Through the launch of TDECU Holdings LLC in 2011, the credit union brought TDECUInsurance, TDECU Wealth Advisors, TDECU Real Estate LLC and CenturyOaks Title LLC under one management entity to aid with efficiencyand transparency.

TDECU made industry headlines that same year when it severedties with the Texas Credit Union League and CUNA for several reasons,including what it described as a lack of volunteer governance onthe league and national boards, a decline in educational contentand what it considered to be too close ties with industry groupspromoting credit card and bankruptcy reform.