Local credit union concerned about Texas SB 714

Local credit union concerned about Texas SB 714

WICHITA FALLS, TX (KAUZ) - A new Texas Senate bill has one local credit union concerned about possible future changes that to them currently remain unclear.

Texoma Community Credit Union is saying no to Senate Bill 714.

If passed could it change the way property is passed on after death depending on the type of account that member might have.

John Buckley, President and CEO of Texoma Community Credit Union sent out an email taking his stance public against Senate Bill 714.

Buckley believes the bill would impose unnecessary and expensive requirements on credit unions across the state.

"There's just an unknown as far as the extent or the effect on credit unions," said Buckley.

Texoma Community Credit Union works very closely with each member and want everyone to be educated and aware about the senate bill that could affect them if passed.

The bill passed 9-0 in the Senate Committee on Business and Commerce, it now goes to the full Senate for consideration.

We did reach out to both Senator Craig Estes and Representative James Frank to get their take on the bill, both were in session and unable to comment.

We will continue to keep you updated on the progress of this bill.

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