Credit Union Department State Of Texas

The Credit Union Department is a Texas state agency with the responsibility for supervising and regulating state-chartered credit unions. The Department is governed by the nine-member Credit Union Commission, comprised of four members from the credit union industry, and five members from the general public with no direct involvement in the management of a financial institution. The day-to-day operations of the Department are the responsibility of the Credit Union Commissioner, who serves as the executive director for the agency. Mission -- The Department's mission is to supervise, regulate and examine Texas credit unions in order to safeguard the public interest, protect the financial interests of credit union members and promote public confidence in the credit union industry. Vision -- The Department seeks to assure a credit union system in which credit unions soundly manage their risks, maintain the ability to compete effectively with other providers of financial services, meet the needs of their members for credit and financial services, comply with laws and regulations, and provide fair treatment of their members. Philosophy – As stewards of the public trust the Department attempts to regulate in a firm, fair, and consistent manner; ensure strategic and efficient use of public resources; provide the highest level of customer service; and recognize the dignity and worth of our staff and the citizens of Texas. Funding -- The Department was designated as a self-directed, semi-independent agency within the executive branch of Texas state government on September 1, 2009. The costs of the agency are covered by assessments and fees paid by state-chartered credit unions.