Time for some TDECU love
Featured on Time Magazine’s website (and right now, the fourth most popular story there) is a must-read article titled “Bad Times for Banks Mean Boom Times for Credit Unions.” Recognize the name below?
Business is booming for Ed Speed, which is a little odd, considering he lends money for a living. But that’s the story of credit unions nowadays, including the one in southeastern Texas that Speed runs, where real estate lending has doubled over the past five weeks, and auto loans are on track to grow 40% to 60% in October.
My favorite part of the article:
Members-only nonprofit credit unions are having their turn in the sun as years of sticking to boring, old-fashioned banking practices — they typically hold the mortgages they make on their own books and only dabble in subprime — put them in a position to grab market share while national banks, auto finance companies, credit-card outfits and private student-loan firms cut back on loans.
We’re beaming from ear to ear here.
Niiiiiiiiiiice!
DeAndre
October 27, 2008 at 3:45 pm
I love TDECU, we’re so open to giving people a 2nd chance even now when times are hard. Not to mention we work with our members to get them back on their feet when they have no where else to turn. It’s great feeling like you’ve really made a difference.
Melissa R,
November 22, 2008 at 11:42 pm