A Message from the CEO
Certainly, the headline news of the past week has sparked a new round of public interest regarding the health of our banking system. Given this backdrop, it is always an opportunity to remind our members about the unique factors that set our credit union apart from the big banks.
At Texas Bay Credit Union, we have been proudly serving our members and local communities since 1936. As a not-for-profit, we are able to make balanced decisions over time without taking unnecessary business risks. As cooperatives, we can deliver value to our member-owners in a thoughtful and prudent manner. Because of this long-term mindset, when times get tough, we can expand our reach to the communities we serve rather than retract.
It is exciting to bring the credit union difference to more members at times when other financial service providers may not. Our responsibility is to serve as good stewards of your funds, and we are proud to be classified as "well capitalized" by our regulator, which is the highest capital rating a credit union can achieve.
The difference between Texas Bay Credit Union and many banks is our ability to offer $500,000 insurance on your deposits. The National Credit Union Administration (NCUA) insures all deposits up to $250,000. In addition, Texas Bay offers an additional $250,000 insurance on your deposits. This insurance is referred to as the Excess Share Insurance (ESI). This combination of NCUA and ESI insurance provides $500,000 of coverage on your deposit accounts. Your money is safe with us.
We are local, we are in your community, and we are here with you and for you throughout your financial journey whether that be for personal or business needs.
We value your trusted membership and your safety and security are our highest priority. We appreciate your continued loyalty. Please do not hesitate to contact us at 713.852.6700 with any questions.