A CUNA spokesman today declined to discuss the departure of the Texas Dow Employees Credit Union from its membership rolls.
The $1.6 billion Texas Dow Employees Credit Union has disaffiliated from CUNA and the Texas Credit Union League, Credit Union Times learned today.
The head of the Texas Credit Union League renewed his appeal today for industry calm and caution in dealing with the corporate restructuring, suggesting CUs "keep their powder dry" before acting hastily on changing providers.
The decision-making process began in earnest last week among credit union managers and the leaders of state leagues on the next step in dealing with possible alternate vendors for wholesale services as a result of the corporate seizures.
CUNA, joined by state leagues, were in media damage control Monday to keep a lid on any more "credit union bailout" coverage of the type that hit online and in a handful of national outlets over the weekend following the corporate seizures.
Marking the latest partnership between a state league and an overseas credit union, the Texas Credit Union League announced it has signed a co-op agreement with Brazil's leading CU organization.