Sabine FCU of Orange, Texas today assumed the assets of Orange County Employees CU after the Texas Credit Union Department named the NCUA liquidating agent of Orange County Employees CU.
Two Houston credit unions, the $232 million PrimeWay FCU and the struggling $128 million TexasOne Community CU are planning a merger, it was disclosed this week.
Last week the score on deposit insurance coverage was even. One for the NCUA and one for American Share Insurance.
In a turnabout, the $481 million Velocity Credit Union of Austin, Texas has decided against switching coverage from the NCUA to a private carrier, American Share Insurance of Ohio.