Although the Texas Credit Union Department said conservatorship for the $106 million Edinburg Teachers Credit Union was necessary to protect the public interest, the regulator cited no specific reason – not even the usual unsafe or unsound practices – for taking over the credit union.
The Texas regulator appointed the NCUA as the conservator to the Edinburg, Texas-based credit union. The announcement from the independent federal agency that it was appointed conservator was released shortly before 6 p.m. EST on Friday.
While ETCU’s financial performance reports showed the credit union was not struggling financially or losing money, the credit union’s 2019 IRS 990 return showed that its former President/CEO Jeffrey B. Moats was paid a total compensation of $1,611,821, which was four times the median base salary and bonus pay for CEOs across all asset sizes in 2019.
According to the 2020 CUES Executive Compensation Survey, the median base salary and bonus compensation package totaled $412,713 for credit union CEOs across all asset sizes in 2019. Among credit unions that managed assets of $100 million to $199 million, the total CEO compensation amounted to $196,178 in 2020, according to the CUES survey.
In 2019, Moats received a base pay of $467,600; bonus and incentive pay of $102,960 and other reportable compensation of $1,004,589. He also received $25,000 in retirement and other deferred compensation and $11,672 in nontaxable benefits, according to ETCU’s 2019 IRS 990 filing.
What’s more, in 2016 the former executive received a total compensation of $1,534,582; $1,315,705 in 2012 and $937,390 in 2014, ETCU’s IRS 990 returns showed.
Additionally, Moats was paid more than $550,000 annually in total compensation in 2008, 2017 and 2018, according to the credit union’s IRS 990 returns. And in 2015, he received a total compensation of $461,446.
In 2009 and 2010, Moats was paid more than $260,000 in each year, while in 2011 and 2013, he received more than $300,000 in each year, ETCU’s IRS 990 returns showed.
From 2008 to 2019, Moats received $8,799,709 in total compensation.
Efforts by CU Times to reach Moats on a listed number were not successful.
In all of the credit union’s IRS 990 returns from 2008 to 2019, it stated or affirmed that the process of determining compensation of the CEO included a review and approval by independent persons, comparability data and contemporaneous substantiation of the deliberation and decision.
From 2016 to 2019, ETCU’s total compensation and benefits for all employees increased from $1.6 million to $1.9 million, while its compensation and benefits total declined slightly to $1.8 million last year, according to NCUA financial performance reports. From 2016 to 2020, the credit union employed about eight full-time employees and three to six part-time employees, according to ETCU’s Call Reports.
The average salary and benefits for seven full-time ETCU employees at the end of 2020 was $223,371, compared to its peer average of $73,832, according to NCUA financial performance reports.
The credit union’s current profile report filed with the NCUA in December 2020 listed Moats as the CEO and as a board member, along with four other board members. They were Richard K. Kanipe, board chair; Joe L. Cantu Jr., vice board chair; Brian Warren, board secretary and treasurer; and board member Dale M. Ramos. The two supervisory committee members were Donald G. Strong and Daniel Roma.
While under conservatorship, ETCU will continue normal operations at its one branch for its 12,572 members, the NCUA said in its prepared statement.
Three-Quarters of Consumers Familiar With CUs, But Just 1 in 4 Says a CU is PFI, & Other New Findings
WASHINGTON– More than three-quarters of U.S. consumers said they are familiar with credit unions and hold a positive impression, yet just one-in-four banks primarily with a credit union, a new survey has found. The 2026 Credit Union Consumer Perception Report from CUCollaborate surveyed 1,000 consumers across the U.S. in December 2025 to gauge their opinions on credit unions. It further found early 70% describe credit unions as trustworthy, and a majority recognize their advantages in fees and rates compared to traditional banks. But positive sentiment is in decline with younger bankers, according to CUCollaborate. Gen Z consumers represented a sharp shift in credit union perception from older generations, the company said, noting that among those respondents, 36% indicated they had only heard the term “credit union” without having a deeper understanding or had never heard of the term at all. Some “44% said they were somewhat familiar with credit unions, and a me...
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