Credit Union of Texas

What Credit Union of Texas does

Credit Union of Texas (CUTX) is a member-owned, nonprofit financial cooperative headquartered in Allen, Texas and operating across North and East Texas since 1931. The firm delivers a full-service retail and small-business banking platform: deposit products (checking, savings, money market, CDs, IRAs), consumer lending (auto, mortgage, HELOC, home equity, personal, recreational), credit cards, and business banking (checking, treasury services, commercial lending, 1031 exchange accounts). Membership is geographically restricted to individuals who live, work, or worship in Dallas, Denton, Collin, or Rockwall counties, with a hybrid delivery model spanning more than 15 physical branches, a mobile application on iOS/Android, and online banking augmented by an 80,000+ surcharge-free ATM network through CO-OP.

The platform is delivered through a combination of in-house infrastructure and partner integrations: Zelle and Ria for money movement; Sparrow for student loan refinancing across 20+ lenders; FairLease and GoFair for auto purchase; BankSocial for self-custody digital asset trading (one of the first US credit unions to offer this in-app); and a wholly-owned subsidiary, Texas Mortgage Lending, LLC (NMLS #1641703), for residential mortgage origination. Products follow a core-plus-module architecture, with distinct checking tiers (Secure, Secure Plus, Student), savings variants including Save the Change round-ups, and an extensive mortgage menu (15/20/30-year fixed, 40-year, FHA, VA, USDA, ARM, Jumbo, Interest-Only, 5% Down No PMI, Inflation Fighter Buydown, Fast Lane $0 Down).

CUTX earns revenue primarily from net interest spread on loans funded by member deposits, with supplementary income from account fees, interchange, loan-related fees, and ancillary services such as Auto Protection Products (GAP, VSC, CVP, Payment Protection). Members also gain access to non-lending benefits (Early Pay, Skip-A-Pay, Telehealth with Zero Copay, Will & Estate Planning) intended to drive wallet share. The cooperative is regulated by the Texas Credit Union Department, federally insured by the NCUA, and has been positioned in the community through partnerships with 38 school districts and substantial philanthropic activity, including a $1.5M donation to the Children's Advocacy Center of Collin County and over $19.8M in cumulative community investment.

Name

Credit Union of Texas

Legal name

Credit Union of Texas

Website

https://cutx.org

Company type

Private

Founded year

1931

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Credit Union of Texas (CUTX) is a nonprofit, member-owned financial cooperative founded in 1931 and headquartered in Allen, Texas, serving 144,000+ members across Dallas, Denton, Collin, and Rockwall counties with checking, savings, mortgage, auto, home equity, business banking, and credit products delivered through branches, mobile, and a fintech partner ecosystem.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Credit Unions (52213), Credit Card Issuing (522210)

SIC

Personal Credit Institutions (6141)

akta.pro primary industry

Community Credit Unions (Retail/Consumer Focus) (FSABAEAA)

Keywords

• Retail banking services
• Consumer lending
• Mortgage loans
• Credit union deposits
• Small business banking

Headquarters

HQ city

Dallas

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others

Revenue model

1. Interest Income from Lending: Credit Union of Texas generates primary revenue through interest earned on loans including auto loans, mortgages, home equity loans/lines, personal loans, and recreational loans. The credit union offers various loan products with competitive rates and earns interest spread between borrower rates and cost of funds.
2. Fee-based Services: CUTX generates revenue from various banking fees including account service fees, ATM fees (though offers 80,000+ surcharge-free ATMs), wire transfer fees, and loan-related fees. Additional fee income comes from credit card services, overdraft protection, and other ancillary banking services.
3. Deposit Funding: As a credit union, CUTX gathers deposits from members through checking accounts, savings accounts, money market accounts, and certificates of deposit. These deposits fund the lending operations and generate revenue through the spread between deposit rates paid and loan rates charged.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels6 records

Core offering

Credit Union of Texas is a member-owned, nonprofit credit union that accepts deposits (checking, savings, money market, CDs, IRAs) and lends those funds to members through auto loans, mortgages (conventional, FHA, VA, USDA, jumbo, ARM, interest-only, no-PMI), home equity lines and loans, personal and student loans, business banking, and credit cards. The credit union earns revenue primarily from net interest spread on this lending activity, supplemented by transaction fees, and distributes its offerings through a regional branch network in North and East Texas combined with a digital and mobile banking platform.

Product overview

Credit Union of Texas (CUTX) is a nonprofit credit union offering a comprehensive suite of financial products and services primarily serving members in North and East Texas. The core banking platform includes multiple checking accounts (Secure Checking, Secure Plus Checking, Student Checking), savings options (High Yield Savings, Member's Choice, Kid's Savings, Holiday Savings), Certificates of Deposit, IRAs, and Money Market accounts. The lending portfolio encompasses auto loans with protection programs (GAP, VSC, CVP), mortgage products including 15/20/30-year fixed, 40-year, FHA, VA, USDA, ARM, Interest-Only, and Jumbo options, plus specialized offerings like the Inflation Fighter buydown and Fast Lane mortgage programs. Home equity products include HELOCs and Home Equity Loans with consolidation options. Personal lending covers student loans (via Sparrow marketplace), On The Spot Loans, personal lines of credit, and recreational loans. Business banking includes checking, money market, treasury services, and lending solutions. Digital banking is delivered through web and mobile platforms with SAM virtual assistant support. CUTX also offers unique member benefits including Self-Custody Crypto (via BankSocial), Save the Change round-up savings, Skip-A-Pay, Early Pay, and Telehealth services, demonstrating a platform-plus-modules architecture serving retail consumer, student, business, and mortgage-focused segments.

Differentiator

Problem solved

Functional benefit

Products and services

• Secure Checking Primary retail checking account for individual members offering standard features including debit card access, direct deposit, and bill payment.
• Secure Plus Checking Enhanced checking account with additional benefits including credit score monitoring tools available through the online banking dashboard.
• Student Checking Checking account designed for students with age-appropriate features and lower qualification requirements.
• High Yield Savings Savings account offering competitive rates for members seeking to maximize returns on deposits.
• Member's Choice Savings Flexible savings account allowing members to customize their savings strategy.
• Kid's Savings Savings account designed for children and youth to start saving.
• Holiday Savings Seasonal savings account for members to set aside funds for holiday spending.
• Certificates of Deposit (CDs) Term deposit accounts with terms ranging from 6 to 60 months offering competitive rates and NCUA-insured balances.
• Individual Retirement Accounts (IRAs) Tax-advantaged retirement savings accounts including traditional and Roth IRA options.
• Money Market Accounts Interest-bearing deposit accounts with competitive rates and limited check-writing privileges.
• Secured Credit Card Credit-building card requiring a security deposit as collateral for members establishing or rebuilding credit.
• Platinum Credit Card Standard unsecured credit card with competitive rates for qualified applicants.
• Auto Loans Vehicle financing for new and used automobiles with competitive rates and fast decision processing.
• Auto Refinance Refinancing option for existing auto loans allowing members to potentially lower their rate and payment.
• 15, 20, 30-Year Fixed Mortgages Traditional fixed-rate mortgage products with terms of 15, 20, or 30 years providing stable monthly payments throughout the loan term.
• 40-Year Mortgage Extended-term mortgage offering lower monthly payments by spreading repayment over 40 years.
• Texas Jumbo Mortgage Loans Mortgage products for higher-priced homes exceeding conforming loan limits with flexible options.
• FHA Home Loans Government-backed mortgages insured by the Federal Housing Administration with down payments as low as 3.5% and flexible credit requirements.
• VA Home Loans Veterans Affairs-backed mortgages offering 0% down payment, competitive rates, reduced closing costs, and no monthly mortgage insurance for eligible veterans and service members; available up to $1.5 million.
• USDA Home Loans Rural development loans offering zero down payment financing for eligible properties in designated rural areas with moderate income limits.
• Adjustable Rate Mortgage (ARM) Hybrid mortgage with an initial fixed-rate period followed by periodic adjustments, offering lower initial rates for buyers planning to move or refinance within the fixed period.
• 5 Year Interest Only Mortgage Special mortgage program allowing interest-only payments for the first five years, reducing initial payment obligations while controlling cash flow.
• 5% Down No PMI Mortgage Loan program allowing 95% LTV financing with only 5% down payment and no private mortgage insurance requirement.
• Fast Lane Mortgage Streamlined approval mortgage designed to help buyers close faster in the competitive Texas market with $0 down payment option.
• Home Equity Line of Credit (HELOC) Revolving credit line secured by home equity with variable and fixed rate options, available for primary residences in Texas up to 80% LTV with interest-only payments during the draw period.
• Home Equity Loan Lump-sum equity loan with fixed rates and payments for large one-time expenses, refinancing, or debt consolidation, with terms up to 30 years.
• Investment Property HELOCs Home equity financing options for investment properties and secondary residences, available for eligible non-owner-occupied properties in Texas.
• Student Loans Private student loans and refinancing options powered by the Sparrow marketplace, enabling members to compare personalized rates from 20+ lenders.
• On The Spot Loans Quick personal loans for qualified members requiring minimal documentation for faster funding.
• Personal Line of Credit Revolving credit line for personal use with flexible access to funds as needed.
• Secured Loans Collateral-backed personal loans offering potentially lower rates for members who can pledge savings or other assets.
• Recreational Loans Financing for boats and recreational vehicles including RVs and campers with competitive rates and flexible terms.
• Business Checking Account Basic business deposit account for operational needs including online and mobile banking access.
• Business Checking Plus Account Enhanced business checking with additional features and benefits for growing businesses.
• Business Money Market Account Interest-bearing business deposit account with tiered rates for higher balances.
• Business Lending Solutions Commercial lending products including term loans and lines of credit for business growth and operations.
• Mobile & Online Banking Digital banking platform accessible via web and mobile app providing account management, money movement, transfers, bill pay, and access to financial tools.
• Digital Currency / Cryptocurrency Service Self-custody cryptocurrency services through the BankSocial partnership, enabling members to buy, sell, and manage digital assets within online and mobile banking.

Quantifiable outcome

• $19.8 million invested in community through donations, sponsorships, and programs
• +3 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Feature4 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• BankSocialcoreTechnology or IntegrationCUTX partnered with BankSocial to become one of the first credit unions in the US to allow members to buy, sell, and manage digital assets (cryptocurrency) conveniently and securely within online and mobile banking. This self-custody crypto integration provides members access to digital currency investments through the existing CUTX digital banking platform.
• FairLeaseminorGTM or Marketing PartnerFairLease is a car buying service partner integrated into CUTX's auto lending ecosystem. CUTX directs members to FairLease for vehicle search and pricing, creating a seamless car-buying and financing experience. FairLease is referenced as an external partner (fairlease.org).
• GoFairminorGTM or Marketing PartnerGoFair provides used car inventory search capabilities for CUTX members. This partnership allows CUTX to offer members access to pre-owned vehicle listings when shopping for auto financing through the credit union.
• Children's Advocacy Center of Collin CountycoreStrategic or Co-development PartnerMajor community partner receiving $1.5 million donation for new 44,000 sq ft facility. CUTX employees contribute over 150 volunteer hours annually for facility maintenance, therapy room cleaning, and event participation. CUTX serves as presenting sponsor for annual fundraising gala and Candy Canes for Kids holiday event.
• Equal Justice InitiativeminorOthersIn June 2020, CUTX donated $100,000 to the Equal Justice Initiative as part of a social justice commitment, with matching donation to NAACP legal defense fund.
• NAACP Legal Defense FundminorOthersCUTX donated $100,000 to NAACP Legal Defense Fund in partnership with Equal Justice Initiative as part of $100,000 total commitment to social justice reform efforts in 2020.
• Preferred Realtor NetworkminorChannel Partner/ Reseller/ DistributorCUTX maintains a network of preferred realtors who offer cash rebates to members completing home purchases with CUTX financing. Rebates range from $250 to $1,500 based on home sale price, credited toward closing costs at close.
• Texas Mortgage Lending, LLCcoreOEM/ Whitelabel/ Licensing PartnerCUTX provides mortgage loans through its affiliate Texas Mortgage Lending, LLC (NMLS #1641703). CUTX NMLS #576560. This is a licensed mortgage lending operation enabling CUTX to offer residential mortgage products.

Scale indicators7 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Texas Trust Credit Union: DFW-based credit union offering consumer banking, mortgages, auto loans, and business services. Comparable to CUTX in product suite, geographic market, and member-owned cooperative structure, with similar asset-size band.
• Randolph-Brooks Federal Credit Union: One of the largest credit unions in Texas, with comparable asset size, full-service consumer and mortgage lending, and a similar community-cooperative charter. Operates across multiple Texas regions including Austin and San Antonio, making it a relevant direct comparison to CUTX's North Texas focus.
• Neighborhood Credit Union: Dallas-area credit union serving North Texas with checking, savings, lending, and mortgage products. Directly comparable geographic focus to CUTX and similar community-cooperative value proposition targeting DFW households and small businesses.
• American Airlines Federal Credit Union: DFW-headquartered federal credit union serving airline employees and broader Texas communities with full banking, lending, and mortgage services. Comparable product breadth and North Texas operating region, with distinct employer-based field-of-membership.
• Veritex Community Bank: Texas-headquartered community bank operating in DFW and other metros with commercial and consumer banking, mortgages, and small-business lending. Comparable in regional focus and target customer base, but as a for-profit bank with different capital and governance structure.
• Broadway Bank: Texas community bank offering consumer and business banking with strong mortgage and deposit franchise. Comparable in community-banking model and Texas-only geographic footprint, though more concentrated in San Antonio.

Broad incumbents

• Frost Bank: Major Texas-headquartered bank offering consumer, mortgage, business, and wealth services across multiple Texas metros including DFW. Significantly larger than CUTX and broader in product portfolio, but competes head-to-head for the same North Texas consumer and small-business relationships.
• Independent Financial: Texas-headquartered community bank operating in DFW and other metros with consumer, mortgage, and business banking. Broader in scale and product scope than CUTX, with comparable North Texas market overlap and a for-profit operating structure.

Regional players

• Space City Credit Union: Houston-based credit union serving the greater Houston area with consumer banking, lending, and mortgage products. Comparable credit-union model and product suite, but operates in a different Texas region without DWF overlap.
• PrimeWay Federal Credit Union: Houston-area federal credit union offering consumer and business banking with a similar member-owned charter and product breadth to CUTX. Comparable in scale and structure but geographically separate from the DFW market.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/cutexas
• YouTubeyoutube.com/channel/UChwlOXLgT8bBLAUa_CBEauw
• Facebookfacebook.com/cutexas
• LinkedInlinkedin.com/company/credit-union-of-texas
• Instagraminstagram.com/cutexas

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Credit Union of Texas