DALLAS — Texas Credit Union Commissioner Harold Feeney said his agency is working closely with the $2 billion Texans Credit Union after the institution has taken substantial hits in its construction and development portfolio.
According to data from NCUA, Texans' member business loans granted grew from $104 million at the end of first quarter 2007 to $289.7 million by the end of the third quarter, a 179% increase. Business loan purchases during same period increased from $19.4 million to $113.9 million, a 487% spike.
Since year-end 2007 through the end of the first quarter 2008, the credit union's member business loans dropped from $311.2 million to $15.6 million, a 95% plunge.
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