Commercial Loan Losses Hit Texans CU

RICHARDSON, Texas – Hard times continued for Texans CU in 2009, especially in the $1.7 billion credit unions member business loan portfolio, helping push losses for the one-time Texas Instruments credit union to $51.2 million."The most significant factor behind Texans’ loss in 2009 was the continuing impact of the economic recession on our commercial loan portfolio," said Mike Sauer, president of Texans, in an e-mail response to The Credit Union Journal.