Intro: Credit Union of Texas Review
Credit Union of Texas dedicates itself to treating you like a member rather than a number. This isn’t just a hollow promise either. This credit union is truly in a better place, compared to a big bank, to achieve this goal because it is member-owned. The Credit Union of Texas reviews online are also full of praise and positive customer experiences.
Image Source: Credit Union of Texas
In addition, it has stood the test of time. Credit Union of Texas was formed in 1931, when a small group of teachers from Dallas started it with only $65.
Today, Credit Union of Texas serves Dallas and the surrounding areas. It ranks as one of the top 100 credit unions in the country because of its asset health, and it serves 120,000 members from all over the country.
Credit Union of Texas provides a personalized experience, including such conveniences as:
- Low rates
- Flexible terms
- Competitive interest rates
- Counseling on financial decisions
- The ability to apply for services over the phone or online (depending on the service type)
See Also: DCU Reviews – What Is DCU? (Auto Loan, Bank, & Mortgage Review)
Review of Credit Union of Texas Checking Account
This Credit Union of Texas review will begin with one of the most basic and important banking services: checking accounts. The Credit Union of Texas offers two types of checking accounts, Secure Checking and Secure Checking PLUS, which are both loaded with extra benefits.
- Built-in identity theft protection
- Buyer’s protection
- An extended warranty
- Insurance for your cell phone (up to $300)
- PLUS accounts: travel discounts
- PLUS accounts: health discounts
- PLUS accounts: entertainment discounts at select locations
Each account comes with Credit Union of Texas online banking services and a debit MasterCard. These debit cards come packed with benefits that compare to those you normally receive with credit cards but without the added hassle.
Debit card benefits:
- Price protection
- Purchase assurance
- Master RoadAssist® service
- Travel assistance
- Extended warranty coverage
- A rewards program for use
Review of Credit Union of Texas Savings
Any good Credit Union of Texas review will have to include savings accounts. There are several savings accounts to choose from, including basic, member’s choice, and students, for starters. Each one has a low minimum ($15 for basic) and a few well-stated rules on when you gain interest ($100 to earn interest for basic).
Children under 18 get very lenient savings accounts with a $0.01 minimum and only $0.01 to earn interest.
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Review of Credit Union of Texas Loans
Loans may be the biggest and scariest service we consider regarding a credit union or bank. However, Credit Union of Texas prides itself on flexible terms and great rates. It handles all the usual loans, home loans, mortgages, home equity, and reverse mortgages. It even offers smart energy loans to Plano residents and a wide variety of teacher loans at all of its locations.
Image Source: Credit Union of Texas Loans
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Review of Credit Union of Texas Credit Cards
If you are interested in a Credit Union of Texas credit card, you can get a Platinum MasterCard or a Platinum Reward MasterCard. Both have great benefits, like competitive rates, no annual fees, and no balance transfer fees. Interest rates range from 10.15% to 17.90%, depending on the market at the time.
For those with poor to non-existent credit, Credit Union of Texas is particularly beneficial. It runs its Build It/Re-Build It service which guides members through the insecure stage of building good credit.
This service is a three-step process:
- The credit union begins by giving you a secure checking account and guiding you through the best financial practices with that account for 4 months.
- It then gives you a 12-month personal loan and reports your progress to credit agencies.
- Finally, it gives you a Credit Union of Texas credit card, auto loan or larger personal loan, and you will have earned healthy credit with the credit union’s assistance.
Investing with Credit Union of Texas
Credit Union of Texas’s financial consultants are CFS-registered to provide you with expert advice on your investments. You can contact them to schedule a free, no-obligation consultation and start improving your financial situation. A consultant will create a personalized month-by-month plan to strategize your expenses and save towards your money goals. The financial investments center located on the credit union’s site provides you with savings calculators and a quick form to contact a CFS advisor.
Credit Union of Texas Online Banking
Credit Union of Texas online banking services provide 24-7-365 access to your accounts. As with big banks, you can view your account balance, transfer funds, pay bills, and more. It is possible to access your account whether on your computer or mobile phone.
It has a mobile app available for Apple and Android phones that makes online banking options a breeze. Download it from the Credit Union of Texas online banking page, and you can do all of the usual online banking options, instantly deposit a check from your phone, and locate an ATM or store near you.
Credit Union of Texas Identity Theft Protection
Identity theft is a real concern, and Credit Union of Texas includes protection against this threat regarding its checking accounts.
Its Identity Theft Protection:
- Monitors your files at all 3 credit bureaus
- Gives you unlimited access to your credit report
- Provides identity theft resolution services
- Monitors your identity in over 1000 databases for evidence of all 7 categories of ID fraud
Credit Union of Texas Hours
Credit Union of Texas’s hours vary by location. You can enjoy 24/7 access to its ATMs and online banking services, and each location is open from 9am–6pm, Monday through Thursday, except for the main office which closes at 5:15 pm. Many locations open earlier and closer later than this time, and may offer Saturday service. Some locations also have drive-thru windows with their own hours, with the drive-thru sometimes being open when the lobby is not.
Related: People’s Trust Federal Credit Union (Ranking & Review)
Credit Union of Texas Membership
Membership to Credit Union of Texas is available to anyone who opens a savings account holding $15 or more. Anyone who lives, works or goes to school in certain Texas counties around the Dallas area can open an account as well as individuals related to them. You can apply for membership online or in one of its stores.
Image Source: Credit Union of Texas Reviews
Membership Perks:
- Every member is a part owner of the Credit Union of Texas.
- Members may review and obtain current financial documents, audit reports, and policies as any owner would.
Credit Union of Texas Reviews
Nearly 100% of Credit Union of Texas reviews online are positive. In fact, some of them are so good, they sound like advertisements.
This review of Credit Union of Texas points out that you can opt out of overdraft processes:
“Closed my Bank of America account and opened one at Credit Union of Texas. Great service. They have some really awesome features. The best being that there is no overdraft fees because YOU HAVE THE CHOICE to not allow overdraft. And their loan rates can’t be beaten.”
On the other hand, this is one of the few negative reviews you can find:
“Okay credit union. Not many perks you find many credit unions that give you much more. Nice employees. My review is for the Plano branch.”
Several people in Credit Union of Texas reviews and in BBB complaints have mentioned a $2 fee for paper statements (even if it didn’t ruin their entire opinion of Credit Union of Texas). Here is one such review:
“I have an account with Texas credit union, and so far I can not complain when it comes down to the service and the products they offer they are amazing. The only inconvenience I had is that when I signed up, they enrolled me in paper statements, which is not a bad thing but then they changed the policy and I was getting charged $2.00 per statement. So I called and they took care of that. In my opinion credit union of Texas is great, they have great customer services and amazing products.”
Review of Credit Union of Texas on BBB
Credit Union of Texas is a BBB-accredited business and has been since 1961. It has an A+ rating and has only received 6 complaints in 3 years! Just one was closed in the last 12 months. All of them were addressed by Credit Union of Texas.
A Comparison of Accounts
According to DepositAccounts‘ review of Credit Union of Texas, the most popular accounts are the 3 year CD, 3 year IRA, and 6 year CD.
It compares the rates for these accounts as follows:
- 3 year CD with a rate of 1.54% compares to the 36 Month Step Up CD at Ally Bank with a rate of 1.55%.
- 3 year IRA with a rate of 1.69% compares to the national average for 36 Month IRAs of various types with a rate of 0.94%.
- 6 year CD with a rate of 1.20% compares to the 60 Month Step Up CD at Synchrony Bank with a rate of 2.05%.
Conclusion – Should You Do Business with Credit Union of Texas?
Based on policies on the official website and Credit Union of Texas reviews online, this company appears to be quite safe. Most people have a favorable opinion of it, even in the rare event of a mistake. To fully protect yourself, you could compare rates and policies with other banks and credit unions available to make sure someone isn’t making an alternative offer that best suits your needs.
Do be aware that, since this is a credit union and not a bank, it doesn’t have locations everywhere. Also, different branches have different rules, and its main appeal is its customer service and attentive policies rather than big business availability.
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