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United Texas CU Abandons Federal Charter and Becomes Privately Insured "Credit News 24"

United Texas Credit Union (San Antonio, TX) has switched from a federal to state charter and converted from federal to private share insurance.

The $254 million credit union will now be insured by American Share Insurance.

The credit union's CEO stated that one of the main reasons for the charter conversion is Texas' flexible Field of Membership (FOM) rules.

Also, local supervision and lower regulatory fees played a role in the credit union's decision to change charters and insurers.

Read the press release.


Title : United Texas CU Abandons Federal Charter and Becomes Privately Insured "Credit News 24"
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