HOUSTON – Primeway FCU was cleared by NCUA to merge into it TexasOne Community CU, a one-time $148 million credit union that has reported big losses in recent years.
Processing Content
The deal will create one of the city’s biggest credit unions with almost $400 million in assets.
TexasOne had a loss of $2.8 million for 2009 and a loss of $665,000 for the first quarter of 2010, as assets declined to $125 million and net worth to just over 1%.
Primeway has almost $280 million in assets and reported net income of $388,000 for the first quarter and net worth of almost 9%.
