The Texas Credit Union Department denied Resource One Credit Union's applications to serve individuals who work and reside in Harris County and individuals who live, worship, attend school or work in Denton, and Collin Counties.
According to documents obtained from the Texas Credit Union Department through a Public Information Request, Resource One did not show that the proposed members were within reasonable proximity of their existing offices. The Department concluded that the credit union could not realistically serve the proposed members from its existing offices.
Specifically, in the application for Denton and Collin Counties, the state regulator noted that Resource One had one office in Denton County and no office in Collin County. The regulator stated that the credit union did not establish that the proposed community was within the credit union's local service area. The regulator found that the credit union could not extend services to all persons within the proposed community though its existing office and thus the existing office could not meet the convenience and need of all people in the proposed geographic community.
In the application for Harris County, the credit union had two offices in the county; but once again failed to establish that the proposed community was within its local service area. The regulator concluded that the credit union could not meet the financial needs of all people within the proposed geographic area.
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