Post integration, which is subject to concerned regulatory and member approvals, Security One will transfer its assets and liabilities to Texas Trust and the united company will manage over $815m in assets and 65,000 members.
The merger will enable Texas Trust to expand its operations in Arlington, while the new merged company will manage 12 convenient branches under the Texas Trust brand name.
The members of Security One Federal Credit Union will get the benefit of mobile and online banking, an extended surcharge-free ATM network, an in-house loan department offering mortgages and auto loans, as well as investment products and services.
Security One Federal Credit Union CEO Pamela Stephens said, "In order to remain competitive and continue to deliver low rates for our members, we determined the best solution for our members was to merge with another credit union."
All the staff of Security One will join the Texas Trust Credit Union, while Stephens will join the executive management team, imparting a key role in the merger and future success of the united credit union.
