Resource One Credit Union is headquartered in Dallas and is the 46th largest credit union in the state of Texas. It is also the 541st largest credit union in the nation. It was established in 1936 and as of June of 2024, it had grown to 162 employees and 72,721 members at 11 locations. Resource One Credit Union's CD rates are 3X the national average, and it has a C+ health rating.
Field of Membership Restrictions
Membership in Resource One Credit Union is open to anyone who lives or works in northwest Harris County (Houston area) or Dallas County, Texas, or within a 10-mile radius of the Carrollton branch. Membership is also open to employees of Select Employee Groups (listed in the online membership application).
See current membership details
Related Posts
3/1 - Resource One CU (TX) Adds A 5 Month 5.64% Apy CD
3/1 - Rate Drop At Rescource One Credit Union
2/20 - Resource One Credit Union 12-Month CD Is Still A Rate-Leader - Expired
1/25 - Resouce One Still Has 12 Month 6.17% CD's & 6.43% 12 Month IRA Cds
1/5 - Resource One Credit Union (TX) Offers 6.17% APY On 12-Month CD
1/4 - Resource One CU (Limited Texas Membership) 6.17% APY On 1 Year CD
This CU Is Very Weak!
Their profit margins are negative and they have an F rating on one of their key metrics.
Good Rates, Poor Management
Good CD Rates but they have difficulties with the basics.
You need to open a savings account to open a CD - (which is relatively common). However, they don't know if you need to do transactions in that savings account to avoid inactivity fee. They just know that the account will be inactive after 6 months but not if there will be a fee or not in that case. :)
Asked this: "Hi. Are there any fees if i do not do any transitions in this savings around for 5 years while i wait for the CD to mature?"
Their response #1:
"You do need to do a deposit or withdrawal once every 6 months on the Savings to keep it active."
Asked about Fees again and their response #2:
"It would go dormant after not having any activity for 6 months. And you could possibly get an inactivity fee. "
:)
Customer Service With A Poor Attention Span
Attempted an online application (including ACH information, which I hated volunteering without even being a member yet) and marking the “worship in the area” eligibility box. Received obvious automated denial based upon my primary mailing address zip code. Replied with willingness to provide documentation of regular Irving, Texas church attendance. Their reply to this several days later stated that the worship eligibility was only for the Carrolton branch (this was not listed anywhere online), but still denied based on residential address.
No surprise with the lost details of operation or slow responses considering their low business rating. My high five figure deposit went to another bank that is proven much more reliable and happy to have my business.
Fraud On Bank Account
My daughter got a phone call from Resource One he introduced himself as an employee ask her was she her then he told her she had fraud activity on her card he read all her recent transactions ask all the proper questions then he ask for a code she verified it he then placed her on hold and the call ended. She then received an email saying she sent her money to a man name Jeff through Zelle she has his last name I can't rememeber it. She immediately called the bank back which was the same number the man called from. Fast foward so today she gets a phone call from the Fraud Department saying she can't get he money back the money isn't in the account anymore and it's not their responsibility, she received the code well considering the call came from their bank and she thought that she was disputing the fraud activity I don't think that's right so we will be taking our business somewhere. She's been with them since a Freshman in high school and this is the type of service she gets.
Bad Customer Service
I have beenwith R1CU for more than 15 years. The customer service use to be great and profesional.
Now the waiting time is longer, and you have to call like 2 or 3 times in order to find a qualified customer care rep that can help you.
I went to the branch to get a new debit card, I left and got home , I did try to use it and it was not activated. I call 214-319-3100 and in two hours nobody could resolve the issue> They gave me another number 8772053191 the person who answer the phone could not tell me why she couldnt activate my card , she told me to call back the R1CU number I did it and they transfer me back to the other number. I request to speak to a supervisor 2 hours late finally i spoke to her, she could not resolve the issue either.
Data as of Q2 2024
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 68439 |
| Year Chartered | 1936 |
| Employees | 162 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.06% |
| Return on Equity - YTD | 1.34% |
| Annual Interest Income | $20.3MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2024vs Q2 2023 | $796.2MM$810MM |
| Loans | Q2 2024vs Q2 2023 | $607.3MM$633.3MM |
| Deposits | Q2 2024vs Q2 2023 | $745.6MM$710.3MM |
| Equity Capital | Q2 2024vs Q2 2023 | $38.6MM$50.3MM |
| Loan Loss Allowance | Q2 2024vs Q2 2023 | $11.3MM$8.7MM |
| Unbacked Noncurrent Loans | Q2 2024vs Q2 2023 | $13.2MM$8.4MM |
| Real Estate Owned | Q2 2024vs Q2 2023 | $0$0 |
