Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
CU Resources buys 13 interest in Catalyst building
PLANO, Texas (4/2/12)--Credit Union Resources Inc. has bought a one-third interest in the Catalyst Corporate FCU building in Plano, Texas, for the future headquarters for Credit Union Resources and the Texas Credit Union League (TCUL).

Key factors precipitating the purchase included: low interest rates on investments, a buyer's real estate market, and investment in a premium building in a marketplace that is expected to experience significant recovery, TCUL said (LoneStar Leaguer March 30).

"Our space requirements fit nicely into one-third of the Catalyst building and we can once again own our office space, thereby helping to control future housing costs," said Dick Ensweiler, president/CEO of TCUL and Credit Union Resources.

"Timing is everything," Ensweiler added. "The Catalyst Corporate FCU building is considered prime real estate, but we were able to take advantage of current economic conditions and purchase a share of the building at a substantially lower cost than if we were to build today."

Economies of scale that both organizations can pass on to their members will be realized by sharing space with TCUL, said Kathy Garner, Catalyst's president/CEO. "This move gives Catalyst added flexibility that will allow us to continue providing innovative products and services," Garner explained.

Credit Union Resources, a wholly owned subsidiary of TCUL, offers fee-based products and services.


RSS print
News Now LiveWire
.@CFPB today finalized changes 2 remittance rule, proposed in April. See rule here: http://t.co/tPs6Mlimni
15 hours ago
State OKs Floridacentral #creditunion's bank branch purchase #NewsNow http://t.co/37uXorWsmV
18 hours ago
Today is deadline to order your T-shirt for #MiracleJeansDay @CU4Kids @CMNHospitals http://t.co/UXIqW3cFN6
18 hours ago
#Creditunion #100MM on display with @NWCUA's Minickiello, Wash. Rep. Sharon Tomiko Santos at @NCSLorg @CUNAadvocacy http://t.co/xVwnS39uEM
19 hours ago
Fraudsters hit @jpmorgan with smash and grab #phishing campaign http://t.co/VEkAvctYLJ
19 hours ago