Credit Union Of Texas is headquartered in Allen and is the 11th largest credit union in the state of Texas. It is also the 172nd largest credit union in the nation. It was established in 1931 and as of September of 2024, it had grown to 499 employees and 165,391 members at 25 locations. Credit Union Of Texas has a B health rating.
Field of Membership Restrictions
Membership in Credit Union of Texas is open to those who live, work, or attend school in the Texas counties of Camp, Collin, Dallas, Denton, Ellis, Fannin, Grayson, Gregg, Harrison, Hunt, Marion, Morris, Rockwall, Smith, Tarrant, Upshur, or Wood. Employees/members of more than 300 SEGS (including 50 Texas school districts) also qualify.
See current membership details
Not Ready For Prime Time
This is the worst place to have a mortgage. They can't tell me what payments I've made. The app does not work, nobody responds to the messages I send, and they keep telling me a payment is missing, but according to my checking account, it is not. Save yourself a lot of money and hassle; use someone else.
Surreal Experience
I opted to join this CU to get the matched (+ 10% increase) on a CD rate because it had a better health rating and more favorable reviews than the CU promoting the rate. I realized the reviews were older but did not see any current ones (negative or otherwise). The last review was posted in 2/2017 and was a 3 star with the comment the more technology the bank uses the more the CS suffers. It is now 01/2024 and technology is ruling at this credit union and there is virtually no CS. You go through a robot to chat, to make a phone call. After you go through hoops you will finally reach a live person who is a call center operator. They listen, put you on hold for a bit, come back and tell you they will make you an appointment to speak to someone "within the bank". So you do and then you wait and the time comes and no call and you wait some more. Almost 2 hours passed and I go through the process again. I tell the operator when I finally get one that someone forgot to call me. Same thing - put on hold for a bit. Then I was told how sorry they were and someone would be contacting me shortly. Almost an hour later I get a call from a bank rep. He was unfriendly, short with his answers to being borderline rude and after 45 seconds I had the distinct impression he was over his allotted time with me. I did voice my concern over not having a way to have contact with a person 'within the bank' and he said he would give me his email and I could apply for membership through it and he would personally take care of it. Ok. So the next day I emailed him because it occurred to me his email was not secure. I get an automated response he was out of the office and would return on the 18th, a week later. How funny is this? I thought, quit while you are ahead. But then a few days later I concede I am a glutton for punishment and thought, give it one more shot. Same scenario on the calling but I finally did get a call from a nice lady who was helpful and she said she would email me so I could have her email and yes, she would be working and would reply. So ok, I went ahead and applied online for membership. I was assigned a member and account number. I then went and set up my online banking and was able to log in and see my account. Then I received an email informing not to use my account number to set up any bill pays, etc. since they needed to verify a few things. That was fine and I wondered why they hadn't done it before they approved the application and withdrew my membership fee and savings account deposit from my external banking account. It was Sat. and I knew no bankers would be at the CU but thought they might have sent a PM through my account. Went to log in and it was locked. So I waited through the long weekend (Monday was a holiday) and contacted the bank. All I could get was they had sent an email. OK, I check my email and there is one from them. They declared adverse action on my application stating I was outside the membership area. Well, I already knew that and had expected them to call to have my reason for applying clarified but they never called. So, back to the robot. BTW, it doesn't matter if you go through chat, phone call or online, you simply cannot call and get a person. It is always by appoint. regardless if an operator makes it for you or you make the appointment online through their website and either way, it's a sorry joke. They do not keep their appointments. So I explain to the operator that I never spoke to a person after I submitted my application - that no one had contacted me. I told her I knew about CU memberships and the qualifications and I wouldn't apply if I didn't meet the criteria. I told her I lived in the area that was on the borderline of Tarrant and Johnson counties and that I had worked for years in Tarrant county at a location a few miles from my home and my daughter was enrolled in a church daycare center (in Tarrant County) a couple of miles from my home during a lot of that time and we attended services there as well and I still attended services there, thus qualifying me ("I live, work, worship, or attend school in one of the following counties" with Tarrant being listed in the drop down list) on the restrictions. All she would say is I'm sorry, it's all explained in the email. All that was explained in the email was I "was outside the membership area". I had already checked my external bank account and the 25.00 (get this as well - a nonrefundable 20.00 membership fee unlike any other CU I've dealt with, all my other CUs just require an amount - usually 5.00, sometimes more, put into a savings account) was withdrawn but no refund. I asked about that. So had to wait. She comes back with the explanation they would be sending me a cashiers check in the mail. I said, I don't want a cashiers check in the mail, I want you to refund the money the same way you took the money - electronically. Well, it seems they won't do that. So I wait on the mail so I can then make a trip to the bank to deposit the check. It never comes. I finally emailed the lady I was dealing with. She was going to check into it and get back with me but didn't and another week-end passes. I contact her again. More apologies. then she says she spoke to their digital services and they had mailed the check out on Thursday the 18th. So, they had declined my application and sent me notice of that on the 16th. They wait until the 18th to mail the check to me. This is now the 26th and the check has not arrived yet and is not in today's mail. Allen is only a few towns over from my town. I could have set out walking with the check on the 18th and had it here by now. If it does not arrive by tomorrow (Sat. 27th) I will have to spend my week-end researching on ways to recoup my lousy $25.00 from this CU. I realize this review is terribly long but I can only hope it saves someone from going through a nightmare experience such as mine. I have never in my life encountered a situation with a bank as bizarre as this. I wouldn't trust this credit union with 5 cents of my money and I am sick to death I gave them not only my personal information but also my daughter's (as beneficiary) as well. This is my main worry and will be for quite some time.
Data as of Q3 2024
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 66327 |
| Year Chartered | 1931 |
| Employees | 499 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.26% |
| Return on Equity - YTD | 3.78% |
| Annual Interest Income | $114.3MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q3 2024vs Q3 2023 | $2.66B$2.44B |
| Loans | Q3 2024vs Q3 2023 | $2.07B$2.14B |
| Deposits | Q3 2024vs Q3 2023 | $2.05B$1.96B |
| Equity Capital | Q3 2024vs Q3 2023 | $180MM$172MM |
| Loan Loss Allowance | Q3 2024vs Q3 2023 | $14.8MM$21MM |
| Unbacked Noncurrent Loans | Q3 2024vs Q3 2023 | $28.9MM$17.6MM |
| Real Estate Owned | Q3 2024vs Q3 2023 | $0$0 |
