Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
CU Resources buys 13 interest in Catalyst building
PLANO, Texas (4/2/12)--Credit Union Resources Inc. has bought a one-third interest in the Catalyst Corporate FCU building in Plano, Texas, for the future headquarters for Credit Union Resources and the Texas Credit Union League (TCUL).

Key factors precipitating the purchase included: low interest rates on investments, a buyer's real estate market, and investment in a premium building in a marketplace that is expected to experience significant recovery, TCUL said (LoneStar Leaguer March 30).

"Our space requirements fit nicely into one-third of the Catalyst building and we can once again own our office space, thereby helping to control future housing costs," said Dick Ensweiler, president/CEO of TCUL and Credit Union Resources.

"Timing is everything," Ensweiler added. "The Catalyst Corporate FCU building is considered prime real estate, but we were able to take advantage of current economic conditions and purchase a share of the building at a substantially lower cost than if we were to build today."

Economies of scale that both organizations can pass on to their members will be realized by sharing space with TCUL, said Kathy Garner, Catalyst's president/CEO. "This move gives Catalyst added flexibility that will allow us to continue providing innovative products and services," Garner explained.

Credit Union Resources, a wholly owned subsidiary of TCUL, offers fee-based products and services.


RSS





print
News Now LiveWire
National #LouiseHerring awards for #creditunion philosophy in action selected #NewsNow http://t.co/two4z5lBAU
19 minutes ago
#NewsNow: @CUNA-CFA survey results suggest 3-3.5% increase in holiday spending. http://t.co/GjcDvvwfzy
17 hours ago
.@WOCCU promoted financial inclusion as a sustainable development goal at two separate @UN events this month.
18 hours ago
Colo. authorities OK first-ever #marijuana-focused CU #NewsNow http://t.co/77qj6O3bcu
18 hours ago
.@Vancity busts some Black Friday retail myths http://t.co/q8Wht3CcRc
19 hours ago