Civic Intelligence

Texans Credit Union

990 • Fiscal year 2013 • EIN 75-0992590

Jan 01, 2013 to Dec 31, 2013 • Filed on Nov 17, 2014

Organization ProfileWWW.TEXANSCU.ORG

View Organization Page

777 East Campbell Rd75081

(972) 348-2000

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Down

$1,424,948,101

Down $14,492,166 (-1.0%) from 2012

Net Assets

Up

$47,247,991

Up $6,611,846 (+16%) from 2012

Liabilities

Down

$1,377,700,110

Down $21,104,012 (-1.5%) from 2012

Revenue And Expenses

Revenue

$61,054,978

No earlier filing loaded for comparison.

Expenses

Down

$37,781,459

Down $6,558,274 (-15%) from 2012

Net Income

$23,273,519

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$3.0B$2.0B$1.0B$0Assets 2010: $1,588,899,179Liabilities 2010: $1,553,051,373Net Assets 2010: $35,847,8062010Assets 2011: $1,423,573,338Liabilities 2011: $1,410,129,460Net Assets 2011: $13,443,8782011Assets 2012: $1,439,440,267Liabilities 2012: $1,398,804,122Net Assets 2012: $40,636,1452012Assets 2013: $1,439,440,267Liabilities 2013: $1,398,804,122Net Assets 2013: $40,636,1452013Assets 2013: $1,424,948,101Liabilities 2013: $1,377,700,110Net Assets 2013: $47,247,9912013Assets 2014: $1,415,315,755Liabilities 2014: $1,352,151,218Net Assets 2014: $63,164,5372014Assets 2015: $1,445,267,462Liabilities 2015: $1,401,566,338Net Assets 2015: $43,701,1242015Assets 2016: $1,532,014,160Liabilities 2016: $1,471,128,564Net Assets 2016: $60,885,5962016Assets 2017: $1,576,599,979Liabilities 2017: $1,496,376,670Net Assets 2017: $80,223,3092017Assets 2018: $1,572,471,414Liabilities 2018: $1,470,374,110Net Assets 2018: $102,097,3042018Assets 2019: $1,606,022,803Liabilities 2019: $1,468,954,127Net Assets 2019: $137,068,6762019Assets 2020: $1,881,983,731Liabilities 2020: $1,721,847,127Net Assets 2020: $160,136,6042020Assets 2021: $2,114,687,717Liabilities 2021: $1,950,544,686Net Assets 2021: $164,143,0312021Assets 2022: $2,155,551,665Liabilities 2022: $2,027,157,739Net Assets 2022: $128,393,9262022Assets 2023: $2,195,933,253Liabilities 2023: $2,025,027,779Net Assets 2023: $170,905,4742023Assets 2024: $2,243,918,289Liabilities 2024: $2,038,910,445Net Assets 2024: $205,007,8442024

Highlighted filing

2013

Assets$1,424,948,101
Liabilities$1,377,700,110
Net Assets$47,247,991
Open 2013 Filing

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$200M$150M$100M$50M$0Expenses 2010: $136,234,9622010Expenses 2011: $178,893,0812011Expenses 2012: $44,339,7332012Revenue 2013: $0Expenses 2013: $0Net Income 2013: $02013Revenue 2013: $61,054,978Expenses 2013: $37,781,459Net Income 2013: $23,273,5192013Revenue 2014: $54,770,595Expenses 2014: $33,082,872Net Income 2014: $21,687,7232014Revenue 2015: $57,945,268Expenses 2015: $31,313,258Net Income 2015: $26,632,0102015Revenue 2016: $53,606,474Expenses 2016: $31,944,108Net Income 2016: $21,662,3662016Revenue 2017: $54,562,487Expenses 2017: $35,005,361Net Income 2017: $19,557,1262017Revenue 2018: $60,195,306Expenses 2018: $34,978,264Net Income 2018: $25,217,0422018Revenue 2019: $61,592,504Expenses 2019: $36,349,197Net Income 2019: $25,243,3072019Revenue 2020: $52,798,769Expenses 2020: $37,129,901Net Income 2020: $15,668,8682020Revenue 2021: $56,103,692Expenses 2021: $40,157,461Net Income 2021: $15,946,2312021Revenue 2022: $76,501,082Expenses 2022: $50,324,677Net Income 2022: $26,176,4052022Revenue 2023: $98,558,127Expenses 2023: $74,644,234Net Income 2023: $23,913,8932023Revenue 2024: $123,635,860Expenses 2024: $102,712,885Net Income 2024: $20,922,9752024

Highlighted filing

2013

Revenue$61,054,978
Expenses$37,781,459
Net Income$23,273,519
Open 2013 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
Nov 17, 2014
Return Version
2013v3.1
Gross Receipts
$61,058,880
Mission and Program Overview

Mission

Texans credit union is a state chartered credit union formed under the state credit union law and the credit union is member-owned cooperative that provides traditional deposit and loan products, as well as other financial services to the membership. The credit unions focus is to improve the economic well-being of our members/owners.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$622,978,425$569,910,037▼ $53,068,388
Investments in Publicly Traded Securities$379,633,974$522,112,512▲ $142,478,538
Savings and Temporary Cash Investments-$223,927,034-
Rtn Earn Endowment Incm Other Fnds$40,636,145$47,247,991▲ $6,611,846
Investments Other Securities$105,621,310$27,898,225▼ $77,723,085
Land, Buildings, and Equipment, Net$11,152,283$24,503,882▲ $13,351,599
Cash and Non-Interest-Bearing Accounts$293,850,249$15,339,306▼ $278,510,943
Total Assets$1,439,440,267$1,424,948,101▼ $14,492,166
Other Assets Total$26,204,026$41,257,105▲ $15,053,079
Liabilities
Other Liabilities$1,381,583,308$1,365,843,234▼ $15,740,074
Accounts Payable and Accrued Expenses$17,220,814$11,856,876▼ $5,363,938
Total Liabilities$1,398,804,122$1,377,700,110▼ $21,104,012
Net Assets / Fund Balance
Total Net Assets Fund Balance$40,636,145$47,247,991▲ $6,611,846
Total Liabilities and Net Assets / Fund Balance$1,439,440,267$1,424,948,101▼ $14,492,166

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,592,419$26,277,337$27,869,756
Buildings$16,790,846$4,473,873$21,264,719
Land$6,049,497-$6,049,497
Leasehold Improvements$71,120$3,561,286$3,632,406
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
John Kevin DurranceCEOFT$306,092$71,039$357,109
Tanya MccorquodaleInterim CEO,FT$168,014-$168,014
Tanya MccorquodaleInterim CEO, Culs-$163,999$13,765$168,014
Charlotte MorrisonCIOFT$152,424$20,370$157,984
Andrew SwogerCFOFT$152,329$13,566$156,506
Tanya PattersonCOOFT$153,216$16,989$155,331
Greg TurnerChief LendinFT$139,348-$139,348
Mark LowtherCROFT$137,731-$137,731
Kathryn VinesDirector ofFT$126,973-$126,973
Tiffany ChisnallDirector ofFT$120,180-$120,180
Michael McmillanDirector ofFT$113,881-$113,881

Highest Paid Contractors

ContractorServicesLocationCompensation
FiservDebit Card Proc-$1,700,458
Open SolutionsCore Sys Maint.-$1,608,805
Tw TelecomTelephony Serv-$392,459
Presidio Network SolutionsHardware- Core-$357,567
Ncr CorporationAtm Maint.-$301,038
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$53,279,675
Investment Income
$7,775,303
Other Revenue
$0
Change in Net Assets
$23,273,519
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$20,418,971
Salaries, Compensation, and Employee Benefits$14,247,133
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$10,502,111
Occupancy---$5,888,652
Office Expenses---$3,496,424
Benefits to Members---$3,115,355
Other Employee Benefits---$1,387,361
Depreciation Depletion---$1,127,843
Insurance---$1,080,293
Payroll Taxes---$1,058,828
Current Officers, Directors, Trustees, and Key Employees---$1,033,833
Fees for Services Legal---$920,000
Interest---$886,473
Other Expenses---$520,955
Advertising---$484,807
Pension Plan Contributions---$265,000
Fees for Services Accounting---$158,937
Conferences and Meetings---$107,358
Fees for Services Management---$94,830
All Other Expenses---$-2,960,295
Total Functional Expenses$0$0$0$37,781,459
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Member Shares$1,365,843,234
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

“Yes, the credit union has members which can join the credit union if they meet the "field of membership" requirements, and choose to join.”

Form 990, Page 6, Part VI, Line 7A

“Members of the credit union have the right to elect one or more members of the organization's governing body, whether periodically, as vacancies arise, or otherwise.”

Form 990, Page 6, Part VI, Line 7B

“Members of the credit union have the right to approve the governing body's election and removal of members of the governing body, as well as other matters that are subject to the approval of members of the credit union as they occur.”

Form 990, Page 6, Part VI, Line 11B

“The completed form will be reviewed by the tcu ceo. The form will be signed by the cfo.”

Form 990, Page 6, Part VI, Line 12C

“The employees of the organization are required to review and acknowledge the review of the policies when hired into the organization. Quarterly communications are sent to employees notifying them of any changes to the policy. The credit union also provides an anonymous repoting hot-line which is maintained by a third party and results are provided to the internal audit function.”

Form 990, Page 6, Part VI, Line 15A

“The director of hr provides comparative data to the compensation of committee on an annual basis. The comp committee which is made up of 3 members of the board of directors previews this information annually and deliberates to make determinations regarding the performance review process and annual compensation changes of the ceo. They also, when applicable, will provide oversight and approval of any credit union officer's bonus plan.”

Form 990, Page 6, Part VI, Line 15B

“The director of hr provides comparative data to the compensation committee on an annual basis. The comp committee which is made up of 3 members of the board of directors previews this information annually and deliberates to make determinations regarding the performance review process and annual compensation changes officers and key employees. They also, when applicable, will provide oversight and approval of any credit union officer's bonus plan.”

Form 990, Page 6, Part VI, Line 19

“Governing documents that are required to be made available to the public are provided using different methods. Some are provided through posting of signs in public locations such as the lobbies of branch offices. Other governing documents/notices that require annual mailings are provided to the membership as required by mail. The website is also used to provide certain required documents. Financial statements are made available to the public upon request.”

Filing and Contact Details

Filer

EIN
75-0992590
Phone
9723482000

Signing Officer

Name
Andrew Swoger
Title
CFO
Phone
9723482000
Signed
2014-11-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kevin Durrance
Formed
1953
Legal Domicile
TX
Voting Board Members
9
Independent Board Members
7
Employees
376

Preparer

Preparer
Daniel J Cole
Phone
9547551760
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Item B

“Original return was missing kay data on various schedules. This amendment corrects these differences.”

FORM 990 - ORGANIZATION'S MISSION

“Texans credit union is a state chartered credit union formed under the state credit union law and the credit union is member-owned cooperative that provides traditional deposit and loan products, as well as other financial services to the membership. The credit unions focus is to improve the economic well-being of our members/owners.”

Form 990

“Item 1, -on april 15, 2011 the national credit union association (ncua) placed texans credit union into "conservatorship". Under this process the existing governing board was removed. Ncua is the governing body after april 15th, 2011. Item 2, -employees are elgibile for discounts on auto loans. The discount is .5% below the apr.”

Form 990, Part XI

“Ncua contribution, subordinated debt shown as equity 50,000,000”

Form 990, Part XI, Line 9

“Change in pension plan valuation 245,920 ncua subordinated debt-repay 10,000,000 change in market value securities 6,907,593”

Financial Statement Notes

Schedule D, Page 3, Part X

“The following is the footnote contained in the financial statement audit prepared by the independent certified public accountants for the year ending 12/31/13. The credit union is exempt, by statute, from federal income taxes. The cuso, however, is subject to federal and state income taxes. The internal revenue service (irs) has issued a clarification in the form of a technical advice memorandum (tams) on the issue of unrelated business income tax (ubit). The irs has indicated this memorandum will clarify its position on what types of revenue are subject to ubit. However, irc section 511 imposes a tax on the unrelated business income derived by state-chartered credit unions. Many states have similar laws related to various activities conducted by state-chartered credit unions. At this time, there is uncertainty regarding whether the credit union should pay income tax on certain types of net taxable income from activities that may be considered by taxing authorities as unrelated to the purpose for which the credit union was granted nontaxable status. The taxing authorities have the ability to assess taxes, penalties and interest for any years for which no tax return was filed. Management has evaluated the credit union's tax positions and concluded that the credit union has taken no uncertain tax positions that require adjustments to the financial statements. In the opinion of management, any liability resulting from taxing authorities imposing income taxes on the net taxable income from activities deemed to be unrelated to the credit union's nontaxable status is not expected to have a material effect on the credit union's financial position or results of operations. While it seems likely that certain income streams of state chartered credit unions will be subject to ubit, the issue remains open. The credit union files irs forms 990 and 990t in the u.s. Federal jurisdiction and has a december 31 tax year end.”

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IRS990/Form990PartVIISectionAGrp/TitleTxt4CHIEF LENDIN
IRS990/Form990PartVIISectionAGrp/TitleTxt5CRO
IRS990/Form990PartVIISectionAGrp/TitleTxt6INTERIM CEO,
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR OF
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR OF
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR OF
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IRS990/ProgramServiceRevenueGrp/Desc2SERVICE CHARGES & FEES
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IRS990/ProgSrvcAccomActy2Grp/Desc0SHARES 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.
IRS990/ProgSrvcAccomActy3Grp/Desc0CHECKING ACCOUNTS: THE CREDIT UNION OFFERS A NUMBER OF CHECKING ACCOUNT PRODUCTS WITH VARYING FEATURES. THE OFFERS INCLUDE FREE CHECKING FOR THE MEMBER WHO WANTS NO SERVICE CHARGE, STUDENT CHECKING FOR THOSE MEMBERS ATTENDING SCHOOL, REWARD CHECKING FOR THOSE THAT LIKE TO MAINTAIN HIGHER BALANCES. MANY CHECKING ACCOUNTS HAVE FEATURES THAT INCLUDE ATM ACCESS, ACH AND WIRE SERVICES, DEBIT CARD ACCESS AS WELL AS ON-LINE ACCESS AND BENEFITS SUCH AS BILL PAY.
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0MEMBER SHARES
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE FOLLOWING IS THE FOOTNOTE CONTAINED IN THE FINANCIAL STATEMENT AUDIT PREPARED BY THE INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS FOR THE YEAR ENDING 12/31/13. THE CREDIT UNION IS EXEMPT, BY STATUTE, FROM FEDERAL INCOME TAXES. THE CUSO, HOWEVER, IS SUBJECT TO FEDERAL AND STATE INCOME TAXES. THE INTERNAL REVENUE SERVICE (IRS) HAS ISSUED A CLARIFICATION IN THE FORM OF A TECHNICAL ADVICE MEMORANDUM (TAMS) ON THE ISSUE OF UNRELATED BUSINESS INCOME TAX (UBIT). THE IRS HAS INDICATED THIS MEMORANDUM WILL CLARIFY ITS POSITION ON WHAT TYPES OF REVENUE ARE SUBJECT TO UBIT. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME DERIVED BY STATE-CHARTERED CREDIT UNIONS. MANY STATES HAVE SIMILAR LAWS RELATED TO VARIOUS ACTIVITIES CONDUCTED BY STATE-CHARTERED CREDIT UNIONS. AT THIS TIME, THERE IS UNCERTAINTY REGARDING WHETHER THE CREDIT UNION SHOULD PAY INCOME TAX ON CERTAIN TYPES OF NET TAXABLE INCOME FROM ACTIVITIES THAT MAY BE CONSIDERED BY TAXING AUTHORITIES AS UNRELATED TO THE PURPOSE FOR WHICH THE CREDIT UNION WAS GRANTED NONTAXABLE STATUS. THE TAXING AUTHORITIES HAVE THE ABILITY TO ASSESS TAXES, PENALTIES AND INTEREST FOR ANY YEARS FOR WHICH NO TAX RETURN WAS FILED. MANAGEMENT HAS EVALUATED THE CREDIT UNION'S TAX POSITIONS AND CONCLUDED THAT THE CREDIT UNION HAS TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENTS TO THE FINANCIAL STATEMENTS. IN THE OPINION OF MANAGEMENT, ANY LIABILITY RESULTING FROM TAXING AUTHORITIES IMPOSING INCOME TAXES ON THE NET TAXABLE INCOME FROM ACTIVITIES DEEMED TO BE UNRELATED TO THE CREDIT UNION'S NONTAXABLE STATUS IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S FINANCIAL POSITION OR RESULTS OF OPERATIONS. WHILE IT SEEMS LIKELY THAT CERTAIN INCOME STREAMS OF STATE CHARTERED CREDIT UNIONS WILL BE SUBJECT TO UBIT, THE ISSUE REMAINS OPEN. THE CREDIT UNION FILES IRS FORMS 990 AND 990T IN THE U.S. FEDERAL JURISDICTION AND HAS A DECEMBER 31 TAX YEAR END.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount03000
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount21000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount33250
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0JOHN KEVIN DURRANCE
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1CHARLOTTE MORRISON
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm2ANDREW SWOGER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm3TANYA PATTERSON
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm4TANYA MCCORQUODALE
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt2CFO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt3COO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt4INTERIM CEO, CULS
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ORIGINAL RETURN WAS MISSING KAY DATA ON VARIOUS SCHEDULES. THIS AMENDMENT CORRECTS THESE DIFFERENCES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1TEXANS CREDIT UNION IS A STATE CHARTERED CREDIT UNION FORMED UNDER THE STATE CREDIT UNION LAW AND THE CREDIT UNION IS MEMBER-OWNED COOPERATIVE THAT PROVIDES TRADITIONAL DEPOSIT AND LOAN PRODUCTS, AS WELL AS OTHER FINANCIAL SERVICES TO THE MEMBERSHIP. THE CREDIT UNIONS FOCUS IS TO IMPROVE THE ECONOMIC WELL-BEING OF OUR MEMBERS/OWNERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ITEM 1, -ON APRIL 15, 2011 THE NATIONAL CREDIT UNION ASSOCIATION (NCUA) PLACED TEXANS CREDIT UNION INTO "CONSERVATORSHIP". UNDER THIS PROCESS THE EXISTING GOVERNING BOARD WAS REMOVED. NCUA IS THE GOVERNING BODY AFTER APRIL 15TH, 2011. ITEM 2, -EMPLOYEES ARE ELGIBILE FOR DISCOUNTS ON AUTO LOANS. THE DISCOUNT IS .5% BELOW THE APR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3YES, THE CREDIT UNION HAS MEMBERS WHICH CAN JOIN THE CREDIT UNION IF THEY MEET THE "FIELD OF MEMBERSHIP" REQUIREMENTS, AND CHOOSE TO JOIN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO ELECT ONE OR MORE MEMBERS OF THE ORGANIZATION'S GOVERNING BODY, WHETHER PERIODICALLY, AS VACANCIES ARISE, OR OTHERWISE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION AND REMOVAL OF MEMBERS OF THE GOVERNING BODY, AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF MEMBERS OF THE CREDIT UNION AS THEY OCCUR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE COMPLETED FORM WILL BE REVIEWED BY THE TCU CEO. THE FORM WILL BE SIGNED BY THE CFO.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7THE EMPLOYEES OF THE ORGANIZATION ARE REQUIRED TO REVIEW AND ACKNOWLEDGE THE REVIEW OF THE POLICIES WHEN HIRED INTO THE ORGANIZATION. QUARTERLY COMMUNICATIONS ARE SENT TO EMPLOYEES NOTIFYING THEM OF ANY CHANGES TO THE POLICY. THE CREDIT UNION ALSO PROVIDES AN ANONYMOUS REPOTING HOT-LINE WHICH IS MAINTAINED BY A THIRD PARTY AND RESULTS ARE PROVIDED TO THE INTERNAL AUDIT FUNCTION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8THE DIRECTOR OF HR PROVIDES COMPARATIVE DATA TO THE COMPENSATION OF COMMITTEE ON AN ANNUAL BASIS. THE COMP COMMITTEE WHICH IS MADE UP OF 3 MEMBERS OF THE BOARD OF DIRECTORS PREVIEWS THIS INFORMATION ANNUALLY AND DELIBERATES TO MAKE DETERMINATIONS REGARDING THE PERFORMANCE REVIEW PROCESS AND ANNUAL COMPENSATION CHANGES OF THE CEO. THEY ALSO, WHEN APPLICABLE, WILL PROVIDE OVERSIGHT AND APPROVAL OF ANY CREDIT UNION OFFICER'S BONUS PLAN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9THE DIRECTOR OF HR PROVIDES COMPARATIVE DATA TO THE COMPENSATION COMMITTEE ON AN ANNUAL BASIS. THE COMP COMMITTEE WHICH IS MADE UP OF 3 MEMBERS OF THE BOARD OF DIRECTORS PREVIEWS THIS INFORMATION ANNUALLY AND DELIBERATES TO MAKE DETERMINATIONS REGARDING THE PERFORMANCE REVIEW PROCESS AND ANNUAL COMPENSATION CHANGES OFFICERS AND KEY EMPLOYEES. THEY ALSO, WHEN APPLICABLE, WILL PROVIDE OVERSIGHT AND APPROVAL OF ANY CREDIT UNION OFFICER'S BONUS PLAN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt10GOVERNING DOCUMENTS THAT ARE REQUIRED TO BE MADE AVAILABLE TO THE PUBLIC ARE PROVIDED USING DIFFERENT METHODS. SOME ARE PROVIDED THROUGH POSTING OF SIGNS IN PUBLIC LOCATIONS SUCH AS THE LOBBIES OF BRANCH OFFICES. OTHER GOVERNING DOCUMENTS/NOTICES THAT REQUIRE ANNUAL MAILINGS ARE PROVIDED TO THE MEMBERSHIP AS REQUIRED BY MAIL. THE WEBSITE IS ALSO USED TO PROVIDE CERTAIN REQUIRED DOCUMENTS. FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt11NCUA CONTRIBUTION, SUBORDINATED DEBT SHOWN AS EQUITY 50,000,000
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt12CHANGE IN PENSION PLAN VALUATION 245,920 NCUA SUBORDINATED DEBT-REPAY 10,000,000 CHANGE IN MARKET VALUE SECURITIES 6,907,593
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 1, ITEM B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc9FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc10FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc11FORM 990, PART XI
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc12FORM 990, PART XI, LINE 9
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IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine10TEXANS CU
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine11CULS
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine12CULS
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine13CULS
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine14CULS
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine15CULS
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine16CULS

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2013 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,424,948,101
Liabilities
$1,377,700,110
Net assets
$47,247,991
Revenue
$61,054,978
Expenses
$37,781,459
Net income
$23,273,519
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2,244$2,039$205$124$103$20.9
2023Detailed filing. Detailed filing data is available for this year.$2,196$2,025$171$98.6$74.6$23.9
2022Detailed filing. Detailed filing data is available for this year.$2,156$2,027$128$76.5$50.3$26.2
2021Detailed filing. Detailed filing data is available for this year.$2,115$1,951$164$56.1$40.2$15.9
2020Detailed filing. Detailed filing data is available for this year.$1,882$1,722$160$52.8$37.1$15.7
2019Detailed filing. Detailed filing data is available for this year.$1,606$1,469$137$61.6$36.3$25.2
2018Detailed filing. Detailed filing data is available for this year.$1,572$1,470$102$60.2$35.0$25.2
2017Detailed filing. Detailed filing data is available for this year.$1,577$1,496$80.2$54.6$35.0$19.6
2016Detailed filing. Detailed filing data is available for this year.$1,532$1,471$60.9$53.6$31.9$21.7
2015Detailed filing. Detailed filing data is available for this year.$1,445$1,402$43.7$57.9$31.3$26.6
2014Detailed filing. Detailed filing data is available for this year.$1,415$1,352$63.2$54.8$33.1$21.7
2013Detailed filing. Detailed filing data is available for this year.$1,439$1,399$40.6$0.00$0.00$0.00
2013Detailed filing. Detailed filing data is available for this year.$1,425$1,378$47.2$61.1$37.8$23.3
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1,439$1,399$40.6$44.3
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1,424$1,410$13.4$179
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1,589$1,553$35.8$136