Texans Credit Union

Nonprofit profile at a glance

EIN
750992590
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Richardson, TX, USA
Phone
9723482000
Rating confidence
Limited

Official website

Reported finances

Revenue
$123,635,860
Expenses
$102,712,885
Assets
$2,243,918,289
Liabilities
$2,038,910,445

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

16 people listed

Executive titles in this filing

  • DAVID FRAZIER (CHIEF EXECUTIVE OFFICER)
  • MICHAEL MCWETHY (EXECUTIVE VICE PRESIDENT)

Highest reported compensation

  • DAVID FRAZIER (CHIEF EXECUTIVE OFFICER): $890,351 total reported compensation
  • MICHAEL MCWETHY (EXECUTIVE VICE PRESIDENT): $793,792 total reported compensation
  • BENJAMIN HART (CHIEF FINANCIAL OFFICER): $656,233 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Texans credit union is a state chartered credit union formed under the state credit union law. The credit union is a member-owned cooperative that provides traditional deposit and loan products, as well as other financial services to the membership. The credit union's focus is to improve the economic well-being of our member owners.

What it reported doing in 2024

Loans: the credit union provides loans of all types in many different categories. The offerings include consumer automobile loans, unsecured loans, residential mortgage loans, home equity and home improvement loans. As part of the loan program the credit union also offers several loan related insurance products such as credit life and disability, mechanical breakdown and gap insurance.

Operating model

Revenue model
Earned-program. 75% of the money available for current operations came from fees and other program revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 94
  • Accountability: 95
  • Sustainability: 73
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 6th percentile among comparable filings
  • Pay-setting controls: 6 of 6 controls in place; rating input score 100
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 77th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 16.9%; rating input score 84; 84th percentile among comparable filings
  • Total-asset coverage ratio: 21.85; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0.91; rating input score 12; 12th percentile among comparable filings
  • Officer compensation ratio: 3.9%; rating input score 26; 26th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 1.8% per year; rating input score 100; 13th percentile among comparable filings
  • Asset growth: 3.5% per year; rating input score 100; 24th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 5 of 5 board members independent · 8 of 9 filing controls reported
  • Programs: 3 filed program accomplishments
  • Leadership: top reported pay $890K · 16 people listed · 6 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $6.3M reported
  • Consistency: 12 of 13 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 12 filed money-flow records
  • Related organizations: 4 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • High — Sustainability: Liabilities to assets ratio scored 12/100.
  • High — Sustainability: Officer compensation ratio scored 26/100.