Dallas Teachers Credit Union Becomes Credit Union of Texas; New Identity Reflects North Texas Institution's Dramatic Growth and Expanded Services

After 70 years in business, Dallas Teachers Credit Union (DTCU) is celebrating its many accomplishments with a new name and a new look designed to better represent the credit union's expansive range of services and increasingly diverse member base. On April 16, DTCU became known as Credit Union of Texas.

The new name comes with a new corporate identity created by Dallas design shop Holt Design.

"We have been considering this change for almost two years," said credit union President Ken Sorrels. "While we had built tremendous equity in the old name throughout North Texas, a new name was needed to better describe the credit union's expanded field of membership. Now is the best time to introduce a new identity."

"One thing that will not change, however, is our commitment to provide members and their families with unmatched personal service and the most comprehensive range of financial products anywhere," Sorrels added.

Dallas Teachers Credit Union was founded in 1931 when a small group of Dallas teachers pooled their resources, applied for a credit union charter and launched the credit union with only $65 in total assets. Today, Credit Union of Texas ranks among the top 100 credit unions in the nation in asset size, boasting more than 145,000 members throughout North Texas.

For several years the credit union has been aggressively adding services and expanding its membership base into new areas of North Texas. Credit Union of Texas provides banking and other financial services to anyone who lives or works in Dallas, Collin, or Rockwall counties as well as those who live or work in the Lewisville, Red Oak, and Midlothian Independent School Districts.

"We expect a very smooth transition," said Sorrels. "Only the name is changing. Members will continue to receive exceptional personal service, more branches and services will be added, and we will continue to have deposit and loan rates among the very best in this market. And, the members can choose how to conduct their business whether at any of our nine branches, by phone or on-line."

Founded in 1931, Credit Union of Texas today has over $809 million in assets and is the financial institution for more than 145,000 members throughout North Texas.

COPYRIGHT 2001 Business Wire, 2001 Gale Group

What are people saying about mortgages today:

Rates on 30-year mortgages edged down last week to a seven-month low. Mortgage-giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages fell to 6.3 percent, down slightly from 6.31 percent two weeks ago. It put rates at the lowest level since they were at 6.24 percent the first week of March.

Bank of Hawaii, Central Pacific Bank, Territorial Savings Bank and Wells Fargo Home Mortgages all cut their 30-year mortgage rates to 5.75 percent this week.

Most people think of a mortgage as a means to an end. After all, you buy a house, not a home loan. But a mortgage is much more than the path to homeownership. It is a financial instrument that must be managed, just like any other financial investment.