MANSFIELD, Texas (8/15/12)--Texas Trust CU in Mansfield, Texas, has begun the next phase of its growth strategy with the purchase of an office park, according to the Texas Credit Union League.
The $721 million asset credit union purchased two buildings in Arlington to serve as its new corporate headquarters and as a long-term financial investment (LoneStar Leaguer Aug. 14).
The office park consists of 78,660 square feet of office space, with a 66% occupancy level. Texas Trust initially will occupy a small footprint, with plans to occupy 50% or more of the total space within the next three to five years.
The new headquarters facility is part of Texas Trust's strategic plan. By 2016, the credit union plans to nearly double its membership to 100,000 from 58,000 and become a $1 billion credit union.
"The new facility gives us room to grow, which means we will be able to add employees and new services and products, so that we can better serve our current members and grow our membership," Jim Minge, Texas Trust president/CEO, told the league.
Texas Trust will move several corporate functions such as marketing to the new space within the next 90 days. The rest of the corporate staff will move in phases, starting in 2013.
Texas Trust also is expanding its full-service branches this year. In March, it opened its ninth branch in Grand Prairie. Its 10th branch, in Mansfield, will open at the end of September.