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
Leagues have until Friday, April 25, to enter into @CUNA 's Blockbuster Awards. The original deadline was April 18. http://t.co/rnJYm76N8U
11 hours ago
Found out how members are saving at the ballpark with the help of their #creditunions tomorrow in #NewsNow #CUNA
14 hours ago
First annual meeting of @Cornerstone_CUL under way: http://t.co/Xp710hzRC3
14 hours ago
.@fileneresearch says #creditunions can educate young adults in the ways of retirement planning #NewsNow #CUNA http://t.co/vXToTtBVA2
14 hours ago
.@Cornerstone_CUL #credit unions lead the way in 1st QTR auto sales http://t.co/ZiSsE5HIFP
15 hours ago