Texas Tech Federal Credit Union is headquartered in Lubbock and is the 71st largest credit union in the state of Texas. It is also the 861st largest credit union in the nation. It was established in 1959 and as of December of 2023, it had grown to 113 employees and 33,607 members at 5 locations. Texas Tech Federal Credit Union's money market rates are 7X the national average, and it boasts an A+ health rating.
Field of Membership Restrictions
Membership in Texas Tech Credit Union is open to those who live, work, worship, or attend school in, and businesses and other legal entities located in an underserved area of Mitchell County or Taylor County, Texas. Faculty and employees of Texas Tech University, the Texas Tech Health Sciences Center, or Lubbock Christian University; or students attending Texas Tech University also qualify. Members and employees of the Texas Tech Alumni Association qualify for membership. Employees of the University Medical Center who work in Lubbock are eligible to join, as are faculty and employees of more than 20 area school districts.
See current membership details
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Leadership Delivers On Customer Service
I have changed my initial, critical review. A member of the leadership team from the credit union reached out and addressed and resolved each of the complaints I had. Thanks to Tyler for prioritizing my concerns and making sure I felt heard and taken care of.
Data as of Q4 2023
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 12858 |
| Year Chartered | 1959 |
| Employees | 113 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.49% |
| Return on Equity - YTD | 4.65% |
| Annual Interest Income | $16.1MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2023vs Q4 2022 | $385.3MM$342.1MM |
| Loans | Q4 2023vs Q4 2022 | $314.8MM$281.5MM |
| Deposits | Q4 2023vs Q4 2022 | $336.1MM$287.4MM |
| Equity Capital | Q4 2023vs Q4 2022 | $40.9MM$36.2MM |
| Loan Loss Allowance | Q4 2023vs Q4 2022 | $1.4MM$1.4MM |
| Unbacked Noncurrent Loans | Q4 2023vs Q4 2022 | $530K$828K |
| Real Estate Owned | Q4 2023vs Q4 2022 | $0$0 |