HOUSTON – TexasOne Community CU has applied to state regulators and NCUA to combine with PrimeWay FCU to create a $400 million credit union, one of the city’s largest.
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TexasOne Community is a one-time $148 million credit union that has fallen on difficult times, with a loss of $4.7 million for 2008 and a loss of $2.8 million for 2009. It has seen its assets fall to $128 million.
PrimeWay, with $270 million, reported a loss of $550,000 for 2008 and a loss of $1 million for 2009 (all caused by a $1.8 million charge for the corporate credit union bailout).
