SAN ANTONIO–The $245-million United Texas Credit Union, which recently changed its name, as also moved to a state charter and to private deposit insurance from Ohio-based American Share Insurance.
In a statement, American Share Insurance said the credit union’s CEO, Kyle Ashley, said the move to a state charter was made to take advantage of more flexible FOM rules.
“Local supervision and lower regulatory fees also played a role in their decision,” the ASI statement read.
As CUToday.info reported here, United Texas is the new name for the former SA Credit Union.