Edinburg Teachers Credit Union Released From Conservatorship

Edinburg, TX — Jan. 29, 2023 – Edinburg Teachers Credit Union (ETCU) is once again under the control of its members after release from conservatorship, the National Credit Union Administration and the Texas Credit Union Department announced today.

Texas Credit Union Department took possession of Edinburg Teachers Credit Union in March 2021 and appointed the NCUA as conservator to ensure the credit union’s financial stability and safe-and-sound operation. During the almost 2-year period, member services continued uninterrupted through the conservatorship. Neither the ETCU nor the NCUA provided details about why the credit union had been placed in conservatorship.

“Edinburg Teachers’ leadership and staff diligently worked to revitalize operations, update and reopen the credit union facility so members can conduct business in person, modernize the website, enhance lending services, and maintain a robust capital position,” NCUA Chairman Todd M. Harper said. 

“Their efforts, along with the hard work of NCUA employees and the Texas Credit Union Department, have led to a credit union that is now on a sound footing and will continue to provide essential financial services to its members,” Harper added. “The newly seated board of directors are professionals from the community and eager to serve the membership. In short, Edinburg Teachers Credit Union is now set up for long-term success.”

The NCUA issued the announced about the release from conservatorship this past Friday, January 27, 2023. However, they did not say when the transfer had officially taken place.

Established on May 2, 1955, the Edinburg Teachers Credit Union is a federally insured, state-chartered credit union with more than 7,000 members and assets of more than $96 million. Edinburg Teachers Credit Union serves employees of many of the school districts in the Rio Grande Valley, Texas, the University of Texas Rio Grande Valley, several select employer groups, and persons located within 10 miles of the credit union’s offices.