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News Now

CU System
Texas league announces facilities assistance program
FARMERS BRANCH, Texas (9/2/10)--The Texas Credit Union League (TCUL) has introduced a Facilities Assistance Program to provide credit unions a forum to discreetly obtain or dispose of a credit union facility. The online confidential service will be offered free to all member credit unions, and will consist of three primary steps (LoneStar Leaguer Sept. 1):
* Credit unions that want to obtain or dispose of a branch or administrative facility can register interest on the TCUL website. Each credit union must execute a “confidentiality agreement,” agreeing to keep all correspondence and exchange of information private, and complete a “confidential facilities fact sheet.” * When properties are offered for sale or lease, TCUL will match the offerings with credit unions registering interest in acquiring facilities in the general vicinity. TCUL will notify credit unions interested in acquiring a property that a facility is available in their area. Credit unions will be provided with basic information about the property for sale or lease. The exact location and the name of the credit union offering the property for sale will not be disclosed. * After a potential buyer notifies TCUL it is interested in obtaining more information, the league will notify the seller and provide contact information for the potential acquirer. After notifying a potential seller, TCUL will disengage from the process, and the seller will contact the potential buyer directly.


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