Houston, TX.
Los Angeles-based Premier America Credit Union expects to buy three branches near Houston next year.
Premier America ($3.3 billion in assets, 113,925 members) announced Nov. 6 it had signed a definite purchase and assumption agreement with Resource One Credit Union of Dallas ($693.4 million in assets, 71,938 members) to buy the branches.
The deal has already been approved by NCUA, the Texas Credit Union Division, and the California Department of Financial Protection and Innovation. It is expected to close in the first half of 2026.
Premier America already has two of its 21 offices in Houston: one at 9630 Westheimer Road and the other at 2001 Rankin Road.
“Premier America has proudly served the Houston community for over 40 years, and we are excited about the opportunity to provide greater access for our current and new members and expand our footprint through the addition of these three locations,” President/CEO Rudy Pereira said.
NCUA data pulled from Callahan’s Peer Suite shows Premier America lost $592,648 in the three months ending Sept. 30, or an annualized -0.07% return on average assets, up from -0.66% ROA a year earlier and up from -0.22% in the second quarter. Its net worth ratio was 9.87% on Sept. 30.
Resource One’s other seven branches and headquarters are all in the Dallas area. It lost $56,079 in the third quarter, or -0.03% ROA, down from 0.42% a year earlier and down from 0.58% in the second quarter. Its net worth ratio was 7.59% on Sept. 30.
“As we continue to deliver on initiatives to achieve operational efficiencies and revenue growth, we believe this divestiture will enable us to reallocate capital toward our core Dallas market,” Resource One President/CEO Mary Beth Spuck said.
“Premier America has demonstrated its unwavering commitment to the credit union model and proven to be the best match for our team and our members,” Spuck said. “Their commitment to quality products and dedication to the Houston community mirrors ours, and I am pleased that our Houston staff will be joining such a fine team to continue to provide financial services and resources for the members of those communities.”
Olden Lane served as financial advisor and Hughes Watters Askanase LLP provided legal counsel to Resource One. McQueen Financial Advisors served as financial advisor and Honigman LLP provided legal counsel to Premier America Credit Union.
In other branch news:
- BECU of Tukwila, Wash., in the Seattle area ($28.9 billion in assets, 1.5 million members) announced Nov. 6 it has opened a branch in Stanwood, Wash., 54 miles south of Seattle. The 3,000-square-foot location marks the credit union’s first in the Stanwood community, joining other nearby locations in Burlington and Marysville. NCUA data shows BECU had 67 branches and other offices on June 30, four more than a year earlier.
- GECU Federal Credit Union of El Paso, Texas ($4.4 billion in assets, 435,429 members) on Nov. 5 opened its first branch outside El Paso. The branch in Lubbock is 350 miles northeast of El Paso. GECU had 27 branches on June 30, two less than a year earlier.
- Chartway Credit Union of Virginia Beach, Va. ($3.1 billion in assets, 270,071 members) opened its relocated Cedar City branch Nov. 5. A news release from the credit union said the new location at 1096 South Main Street is part of its “ongoing multi-million-dollar branch expansion and renovation initiative across Utah, Virginia, and Texas.”
“Opening our new Cedar City branch reflects Chartway’s continued investment in growth, innovation, and the communities we’re privileged to serve,” President/CEO Brian Schools said. It had 42 branches on June 30, two more than a year earlier.
Contact Jim DuPlessis at JDuPlessis@cutimes.com.
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