Texas state chartered CUs required to report new offices and service facilities

AUSTIN, Texas – In a recent edition of its newsletter, the Texas Credit Union Department reminded state chartered credit unions that they are required to notify the Department in writing prior to establishing an additional office or service facility. A credit union also must provide the Department with written notification of the date any new office or service facility becomes operational. Although this statutory requirement has been effective for many years, the Department reports that a number of credit unions apparently have failed to submit the required notifications. In an effort to update its database, the Department has requested that state chartered credit unions complete and return a "Report of Additional Offices and Service Facilities" by July 1. Credit unions with no locations other than their principal place of business should return the form indicating that the additional location section is "not applicable" to the credit union.