$1.4 billion credit union reported $23M net income and 3.64% net worth as of Dec. 31. NCUA's lawsuit against former CEO Addison ongoing.
The NCUA filed suit late last month against David Addison, former CEO of Texans Credit Union, accusing him of breach of fiduciary duty and gross negligence that led to the $1.4 billion credit union’s April 2011 conservatorship.
Ex-CEO Theresa Portillo pleads guilty to stealing $3.4 million from $2 million CU. Mexican time share among her purchases.
Suit alleges misconduct, bad investments led to credit union's $16 million in losses.