Today, Security One Federal Credit Union and Texas Trust Credit Union announced their intended merger. Security One is headquartered in Arlington while Texas Trust operates in Mansfield. The announced merger is subject to regulatory and member approval. The two credit unions have signed an intended merger agreement with the Texas Credit Union Department and the National Credit Union Association. Once the proposed merger is approved by regulators and the firm's members, Security One would transfer its assets and liabilities to Texas Trust.
The collaboration of the two credit unions would lead to having assets in excess of US$815 million. More than 65,000 members would also comprise the company making it the 18th biggest credit union in Texas and the 24th largest in the US.
The merger of the two companies would benefit members of Security One by making more competitive services available to them. Texas Trust would also gain benefits as its presence become bigger in Arlington.
The merged institutions would have 12 convenient branches which will be brought under the Texas Trust name upon merger completion.
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