Qualtrust Credit Union members recently approved a merger with Texas Trust Credit Union, creating combined assets of over $1.2 billion and forming one of the largest credit unions in the state and the U.S.
Qualtrust members voted in favor of the two credit unions coming together, which will operate under the name Texas Trust. The merger was also approved by the National Credit Union Administration and the Texas Credit Union Department.
Texas Trust will have 22 locations with Qualtrust branches in Flower Mound, Bedford, Las Colinas and San Angelo being renamed and Qaultrust’s current employees being brought over to Texas Trust.
“Texas Trust’s financial strength and commitment to its members, employees and the community is what sold our board on the idea of a merger,” Qualtrust President John DiChiaro said. “We know Texas Trust will treat our members and employees well and help our members build brighter financial futures.”
Texas Trust President and CEO Jim Minge said the merger demonstrates the common culture of each credit union.
“Our aim is to create an environment that reflects the culture of each credit union – one where both memberships feel at home and where we are delivering service our members brag about,” Minge said.
The merger, which puts Texas Trust at over 105,000 members, is expected to be finalized by the end of the year.