ARLINGTON, Texas – Members of Qualtrust Credit Union have voted in favor of merging with Texas Trust Credit Union.
The merger has been approved by the National Credit Union Administration and the Texas Credit Union Department.
Texas Trust said it expects to complete the merger process by the end of this year. The newly combined credit union, operating under the Texas Trust name, will have 22 locations. Qualtrust branches in Flower Mound, Bedford, Las Colinas, and San Angelo will be rebranded under the Texas Trust banner.
The combined credit union will have assets in excess of $1.2 billion and more than 105,000 members. No Qualtrust employees will lose their jobs.
In a statement, the credit unions said the merger provides a broader range of financial services to Qualtrust members, such as credit cards, insurance and investment services, in-house mortgage lending, and business services, including SBA lending. Employees will benefit from a more robust benefits package and new career opportunities with the growing credit union.
“We welcome Qualtrust members and employees to the Texas Trust family,” said Jim Minge, president and CEO of Texas Trust Credit Union. “Our aim is to create an environment that reflects the culture of each credit union – one where both memberships feel at home and where we are delivering service our members brag about.”
“Texas Trust’s financial strength and commitment to its members, employees, and the community is what sold our board on the idea of a merger,” said John DiChiaro, president of Qualtrust Credit Union. “We know Texas Trust will treat our members and employees well and help our members build brighter financial futures.”