Security One, Texas Trust credit unions to merge
Texas Trust Credit Union of Mansfield will become the state's 18th-largest credit union when it merges with Arlington-based Security One Federal Credit Union, the institutions announced Wednesday. Pending regulatory and membership approvals, the combined credit union will have 12 branches, more than $815 million in assets and more than 65,000 members, they said. Security One's 25 employees will stay on, according to the announcement, including Security One CEO Pamela Stephens, who will become a senior executive at Texas Trust.
"In order to remain competitve and continue to deliver low rates for our members, we determined the best solution for our members was to merge with another credit union," Stephens said in a prepared release. Security One members will vote on the merger following regulatory approvals, which are expected to take 30 to 60 days.
-- Jim Fuquay