Texans Credit Union

Organization Overview

Texans Credit Union is located in Richardson, TX. The organization was established in 1976. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, Texans Credit Union employed 307 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Texans Credit Union is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.

For the year ending 12/2021, Texans Credit Union generated $56.1m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.5%) each year. All expenses for the organization totaled $40.2m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TEXANS CREDIT UNION IS A STATE CHARTERED CREDIT UNION FORMED UNDER THE STATE CREDIT UNION LAW. THE CREDIT UNION IS A MEMBER-OWNED COOPERATIVE THAT PROVIDES TRADITIONAL DEPOSIT AND LOAN PRODUCTS, AS WELL AS OTHER FINANCIAL SERVICES TO THE MEMBERSHIP. THE CREDIT UNION'S FOCUS IS TO MAKE OUR MEMBER'S LIVES BETTER WHILE SERVING OUR COMMUNITIES.

Describe the Organization's Program Activity:

Part 3 - Line 4a

LOANS: THE CREDIT UNION PROVIDES LOANS OF ALL TYPES IN MANY DIFFERENT CATEGORIES. THE OFFERINGS INCLUDE CONSUMER AUTOMOBILE LOANS, UNSECURED LOANS, RESIDENTIAL MORTGAGE LOANS, HOME EQUITY AND HOME IMPROVEMENT LOANS. AS PART OF THE LOAN PROGRAM THE CREDIT UNION ALSO OFFERS SEVERAL LOAN RELATED INSURANCE PRODUCTS SUCH AS CREDIT LIFE AND DISABILITY, MECHANICAL BREAKDOWN AND GAP INSURANCE.


SHARES SAVINGS AND CERTIFICATES OF DEPOSITS: THE CREDIT UNION OFFERS A NUMBER OF SHARE SAVINGS ACCOUNTS, MONEY MARKET SAVINGS, AND IRA SAVINGS ACCOUNTS. THESE ACCOUNTS PAY DIVIDENDS MONTHLY. OTHER TYPES OF DEPOSIT SAVINGS OFFERINGS INCLUDES CERTIFICATES OF DEPOSIT, BOTH REGULAR MEMBER CERTIFICATES AND IRA CERTIFICATES. THE CERTIFICATES PAY INTEREST ON A MONTHLY BASIS.


CHECKING ACCOUNTS: THE CREDIT UNION OFFERS TWO CHECKING ACCOUNT PRODUCTS. ONE ACCOUNT HAS SIMPLE WAYS TO WAIVE THE MONTHLY SERVICE CHARGE, THE OTHER OFFERS DIVIDENDS TO THOSE MEMBERS WITH HIGHER BALANCES. BOTH PRODUCTS HAVE FEATURES THAT INCLUDE FREE E-SERVICES AND ACCESS TO THOUSANDS OF ATMS.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Lanvera
Statement Processing
$571,728
Insight
Digital Services
$424,745
Ncr
Internet Home Banking/atm Maintenance
$2,166,533
Fiserv
Network Eft
$1,279,092
Jack Henry & Associates
Core Processor
$1,375,448
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$49,525,283
Investment income $6,540,526
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $37,883
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $56,103,692

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