Texoma Community Credit Union

Overview

Texoma Community Credit Union is a nonprofit financial cooperative based in Wichita Falls, Texas. Established in 1953 as the National Federation of Federal Employees Credit Union, it was initially formed by a group of federal civil service employees at Sheppard Air Force Base. Over the years, it has grown to serve a broader community, focusing on financial services for residents and workers across multiple Texas counties.

Membership and Structure

Membership is open to individuals who live or work in several Texas counties, including Archer, Baylor, Clay, Cooke, Denton, Foard, Grayson, Hardeman, Jack, Montague, Palo Pinto, Parker, Stephens, Tarrant, Throckmorton, Wichita, Wilbarger, Wise, and Young. As a member-owned organization, every member has a voting right in the decision-making process, and the profits are reinvested into the community rather than distributed to shareholders.

Operations

As of the latest data, Texoma Community Credit Union operates with over 80 employees and serves more than 25,000 members. It offers a range of financial products and services, including checking accounts, loans, and other banking services. The credit union is committed to supporting the financial well-being of its members through various programs and community initiatives.

Mission and Values

The mission of Texoma Community Credit Union is to empower its members by providing them with the tools to become financially secure, independent, charitable, and happy. It emphasizes community involvement and operates as a financial cooperative, which sets it apart from traditional banks. By focusing on member benefits and community development, the credit union aims to create a positive impact within the regions it serves.

Financial Performance

Texoma Community Credit Union maintains strong financial health with an A rating. It has assets valued at over $275 million and manages a significant portfolio of loans and deposits. The credit union's financial performance is tracked through metrics like return on assets and equity, which reflect its operational efficiency and profitability.

History and Impact

For over 70 years, Texoma Community Credit Union has been an integral part of the Texoma community. Initially founded to serve federal employees, it has expanded its reach, supporting local residents with banking services that cater to their needs. The credit union's commitment to community growth and financial stability makes it a vital financial institution in the region.