The $2 billion Texas Dow Employees Credit Union has partnered with a local company to assist with growing its retirement and estate planning services division.

The Lake Jackson, Texas-based cooperative said its subsidiary, TDECU Wealth Advisors, has partnered with James E. Bashaw & Co., a financial services firm in Houston that offers financial planning, insurance and retirement planning services to make it happen.

In addition, JEB&Co. will provide compliance and back-office operational support, according to TDECU.

“Our wealth advisors team has been very successful at helping our members plan and prepare for the future, and we want to take it to an even higher level as our members deserve the best,” said Stephanie Sherrodd, president/CEO of TDECU. “Working with JEB&Co. will help make that happen much faster by combining our resources and talents.”

Marcie Casas, TDECU media spokeswoman, said there was “miscommunication communicated” in a local article that implied that the credit union was planning to sell TDECU Wealth Advisors to JEB&Co., she told Credit Union Times late Friday before an official response was emailed on Sunday.

In 2013, TDECU said it expanded its presence significantly in the Houston market with 18 branch locations available to serve those who live and work in the area. Particularly, indirect lending and merchant lending helped with those expansion plans when loans in each area reached $402 million and $26 million, respectively, in 2012.

Over the past few years, TDECU Insurance Agency LLC has bought several insurance agencies.

Through the launch of TDECU Holdings LLC in 2011, the credit union brought TDECU Insurance, TDECU Wealth Advisors, TDECU Real Estate LLC and Century Oaks Title LLC under one management entity to aid with efficiency and transparency.

TDECU made industry headlines that same year when it severed ties with the Texas Credit Union League and CUNA for several reasons, including what it described as a lack of volunteer governance on the league and national boards, a decline in educational content and what it considered to be too close ties with industry groups promoting credit card and bankruptcy reform.