Texas Trust Credit Union Earns Ranking as 10th Best-Performing Credit Union in the Country
ARLINGTON, Texas – April 16, 2018 – Texas Trust Credit Union has been ranked among the top 10 best-performing credit unions in the country in the 2018 assessment from S&P Global Market Intelligence.
Texas Trust is the only Texas credit union in the top 10 in the newly released annual report from S&P Global, a leader in multi-asset class research data and insight. The report is based on 2017 performance.
To determine the top-ranking credit unions, S&P Global used a complex formula that measured each institution on five key metrics: member growth, market growth, operating expenses relative to revenues, percentage of loan charge-offs, and percentage of loan delinquencies.
The top credit unions in that analysis performed the best across each of those metrics in comparison with all credit unions in the country with at least $500 million in assets. Texas Trust has assets of more than $1.2 billion, and more than 114,000 members.
“The S&P Global report is especially significant because of the way it analyzed our performance against other credit unions,” said Jim Minge, president and CEO of Texas Trust Credit Union. “The report went beyond mere numbers such as our asset size, and as a result highlights just how efficiently we operate for the benefit of our members.”
Texas Trust had the highest percentage of member growth (34.9) of the top 10 credit unions, and the second highest rate of market growth (27.4 percent).
Minge said the merger with Qualtrust boosted Texas Trust’s 2017 member growth and market growth numbers as far as the S&P Global rankings were concerned, but had no effect on the operational metrics that make up the majority of the comparative assessment.
Texas Trust spent much of 2017 merging Qualtrust members into the credit union, and only just recently completed all the operational aspects of that merger.
“The key reason this S&P Global analysis is so important to us and our members is because it reflects the excellent job that we do in our loans and in the efficiency of our general operations,” Minge said. “As a member-owned cooperative, every one of our members should be pleased with that.”
About Texas Trust Credit Union
Texas Trust Credit Union was created in 1936 when a group of Chance Vought Aircraft Corporation employees pooled their savings so they could help each other achieve financial goals. Today, more than 115,000 members are served through checking and savings accounts; loans (personal, mortgage, auto, and small business); credit cards; insurance products; and investment services. Texas Trust Credit Union supports local students through its “Spirit Debit Rewards” program. With every eligible swipe of an SDR card, funds are donated to the school or district of the member’s choosing. To date, Texas Trust has donated more than $1.5 million since August 2011. Texas Trust serves members through 22 locations in Dallas, Denton, Tarrant, Henderson, Ellis, Johnson and Tom Green counties. With assets of more than $1.2 billion, Texas Trust is the 6th largest credit union in North Texas and the 17th largest in Texas. For more information, visit TexasTrustCU.org or follow us on facebook.com/texastrustcu or Twitter at @texastrustcu.