Program areas at Credit Union of Texas
Consumer loans and leases: Credit Union of Texas offers various consumer loan products to our members. These are closed-end loans that include new and used automobiles, motorcycles, boats and recreational vehicles and motor homes as well as unsecured loans and Credit cards, and automobile leases. Various insurance programs are also offered on these products.
Share accounts: Credit Union of Texas has a minimum $5.00 share account balance requirement and a one time $10.00 membership fee. Member share accounts may pay a monthly dividend. These "savings" accounts are paid a competitive rate to benefit our members. Credit Union of Texas had approximately 158,000 members as of december 31, 2022. Special share accounts are available for children, special occasions, and holiday savings.
Certificates of deposits (cds) and individual retirement account certificates (iras): Credit Union of Texas offers cds and iras for our members to invest in both short and long term investment vehicles at a guaranteed rate of return. Interest rates are typically competitive, compounded, and credited monthly.
Grants made by Credit Union of Texas
Personnel at Credit Union of Texas
| Name | Title | Compensation | Date of data |
|---|
| Vance E Ponter | President and Chief Executive Officer / Executive Vice President | $1,500,646 | 2022-12-31 |
| James W Post | Chief Operations Officer / Chief Sales Officer | $319,942 | 2022-12-31 |
| Kerry Whitson | Chief Financial Officer | $298,432 | 2023-11-13 |
| Edwin F Army | Chief Marketing and Engagement Officer / Chief Marketing Officer | $348,622 | 2022-12-31 |
| Adrian Melendez | Chief Technology Officer / Vice President Information Systems | $252,115 | 2022-12-31 |
| ...and 20 more key personnel |
Financials for Credit Union of Texas
| Revenues | FYE 12/2022 | FYE 12/2021 | % Change |
|---|
| Total grants, contributions, etc. | $0 | $0 | - |
| Program services | $128,899,423 | $110,790,809 | 16.3% |
| Investment income and dividends | $940,135 | $296,327 | 217.3% |
| Tax-exempt bond proceeds | $0 | $0 | - |
| Royalty revenue | $0 | $0 | - |
| Net rental income | $392,407 | $87,193 | 350% |
| Net gain from sale of non-inventory assets | $9,833 | $-111,036 | 108.9% |
| Net income from fundraising events | $0 | $0 | - |
| Net income from gaming activities | $0 | $0 | - |
| Net income from sales of inventory | $0 | $0 | - |
| Miscellaneous revenues | $6,311,327 | $3,526,393 | 79% |
| Total revenues | $136,553,125 | $114,589,686 | 19.2% |
Organizations like Credit Union of Texas
| Organization | Type | Location | Revenue |
|---|
| Velocity Credit Union | 501(c)(14) | Austin, TX | $46,253,683 |
| Brazos Valley Schools Credit Union (BVSCU) | 501(c)(14) | Katy, TX | $44,696,240 |
| First Community Credit Union of Houston | 501(c)(14) | Houston, TX | $98,421,005 |
| East Texas Professional Credit | 501(c)(14) | Longview, TX | $48,939,993 |
| Fort Worth Community Credit Union | 501(c)(14) | Bedford, TX | $51,151,395 |
| Amplify Credit Union | 501(c)(14) | Austin, TX | $86,404,873 |
| Fivepoint Credit Union | 501(c)(14) | Nederland, TX | $49,433,751 |
| Texas Trust Credit Union | 501(c)(14) | Arlington, TX | $83,493,624 |
| Texas Bay Area Credit Union | 501(c)(14) | Houston, TX | $36,404,556 |
| Firstmark Credit Union | 501(c)(14) | San Antonio, TX | $60,165,832 |
Data update history
January 18, 2024
Posted financials
Added Form 990 for fiscal year 2022
January 11, 2024
Updated personnel
Identified 4 new personnel
December 28, 2023
Used new vendors
Identified 4 new vendors, including , , , and
November 25, 2023
Posted financials
Added Form 990 for fiscal year 2021
July 8, 2023
Updated personnel
Identified 4 new personnel
Nonprofit Types
Credit unionsChapter / child organizations
Issues
No issues found
Characteristics
MembershipsState / local levelProvides scholarships
General information
- Address
- 900 W Bethany Dr 500
- Allen, TX 75013
- Metro area
- Dallas-Fort Worth-Arlington, TX
- Website URL
- cutx.org/Â
- Phone
- (972) 263-9497
IRS details
- EIN
- 75-0225045
- Fiscal year end
- December
- Taxreturn type
- Form 990
- Year formed
- 1931
- Eligible to receive tax-deductible contributions (Pub 78)
- No
Categorization
- NTEE code, primary
- W60: Financial Institutions, Credit Unions
- NAICS code, primary
- 522130: Credit Unions
- Parent/child status
- Child within group exemption
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