Why are we doing this?

At TDECU, we are dedicating a small portion of our annual advertising budget to this important public service educational campaign.

In the mid-1990s out-of-state banks, with taxpayer-supported FDIC subsidies, descended on Texas like carpetbaggers descended on Texas after the Civil War.

Locally-owned Texas banks and credit unions had to compete with these government-subsidized banking giants who took over the deposits of Texans while calling in loans that forced many Texas companies out of business.

Now many of these same banks are themselves in trouble. This time the federal agencies did not let these giant non-Texas fail as they did our Texas banks back in the 1990’s. Today, the federal treasury, using taxpayer money, is propping up these troubled, giant banks with virtually no-cost taxpayer money.

Once again, local Texas banks and credit unions are forced to compete with government-subsidized national giants.

Just recently the FDIC facilitated the sale of a $13 Billion Texas bank to Spain – of all places. Now we’re not being taken over by out-of state banks, but European-controlled banks as well. Even the liberal New York Times admits that American taxpayers are going to shoulder the burden of this sale of a Texas bank to a foreign power. Read the article here.

These institutions don’t give a damn about Texas.

We’ve had enough.

If you’ve had enough too, we ask you to tell your friends, family and business associates and ask them to spread the word.

If you’ve really had enough, think about moving all your money to a locally-owned credit union or bank.

By moving your money, you’ll be sending a clear message to those large out-of-town banks and you’ll be getting the great service you deserve from local people you know and trust,

Ed Speed,
President and CEO,
TDECU Your Credit Union