The NCUA said while it has yet to make any decisions about thefuture of Texans Credit Union, a merger is one action the agency has theauthority to pursue.

Other options include maintaining control until the creditunion's financial condition improves and then returning control tothe members to elect a new board, said Todd Harper, director of theNCUA Office of Public and Congressional Affairs and chief policyadvisor to Chairman Debbie Matz.

Harper said seeking another financial institution to partnerwith the credit union through either a merger or a purchase andassumption agreement is another option. Liquidating the creditunion and dispersing assets to the members would be anotherconsideration.