Monday, January 30, 2012

Breaking News: Texans CU Receives $60 Million in Capital Assistance

It appears that NCUA provided Section 208 assistance to Texans Credit Union (Richardson, Texas) during the fourth quarter.

Texans is reporting $60 million in subordinated debt, which is counted as net worth.

Even with the capital assistance, the credit union is critically undercapitalized.

Without the capital assistance, Texans Credit Union would be insolvent with a net worth of minus $44.7 million.
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1 comment:

  1. AnonymousJanuary 30, 2012 at 2:38 PM

    Same for Silver State in Las Vegas. Without funding from ASI credit union would be down the toilet.

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