LAKE JACKSON, Texas — In one of the largest expansion bids by a Texas credit union, the $1.3 billion Texas Dow Employees Credit Union formally announced plans Monday to add six counties, including Harris County, which encompasses all of Houston, to its field of membership.
In a statement, Ed Speed, president/CEO said the application filing with the Texas Credit Union Department underscores "the credit union difference and relationships" and the opportunity "to serve our members in the communities where they live and work."
The application, filed at the end of August, could take several weeks or months depending "how fast the process works," said TDECU.
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Beside Harris, counties being sought for FOM expansion include: Brazoria, East Bend, Galveston, Matagorda and Wharton. The CU has existing branches in three of the counties, Brazoria, Galveston and Harris as it operates in seven counties with 150 SEG groups
TDECU noted that the state's comment period for the FOM bylaw change "continues through the month of September at which time the department may ask for additional information or make a final decision. The timeline will ultimately be determined by this process."
Harold Feeney, the state's CU commissioner, said in Austin he could not recall in recent years "an application encompassing this large a geographic area."
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