First Basin Credit Union

Asset Size: $110.8 million
Member's Equity: $10.1 million
Net Worth (Equity) Ratio: 9.11%
Field of Membership: FBCU serves those who live, work, attend school, or worship in one of the following Texas counties: Andrews, Brewster, Crane, Dawson, Ector, Gaines, Glasscock, Jeff Davis, Martin, Midland, Pecos, Presidio, Reeves, Ward, Winkler or Upton, and those with a family member who is a FBCU member.
Members: 23,000
Potential Members: 130,000. Currently serves 17.75% of its potential members. The national average for peer credit unions is 24.8%.
2006 Net Income (Earnings): $1.54 million
2007 Return on Assets Ratio YTD: 1.57%
2007 RoA Ratio YTD for Peers: 0.70%. FBCU is on the 94th percentile.
Credit Union Website: www.firstbasin.com
Member Website: www.savefirstbasin.com
Data from NCUA Statement of Financial Condition: www.ncua.gov/indexdata.html
In the News: "Disgruntled Members Seek Board Ouster at Failed CU Convert", Credit Union Journal, 2/19/08.

"Answers Please", Odessa American letter to the editor, 2/19/08.

"Group happy with delay: Credit Union members say they ‘won’", Odessa American, 2/16/08.

"Vote suspended: Credit Union CEO wants to address change later", Odessa American, 2/15/08.

"Get the facts about credit unions", Odessa American letter to the editor, 2/10/08.

Coverage on 6pm news, NBC News West 9, 1/29/08.

"Credit Union Fight Heats Up", Odessa American,
1/29/08.

"Campaign Season - First Member-To-Member Letters Inaugurate New Era In CU-Bank Conversion Fight", Credit Union Times, 1/23/08.

"Looking for change, Credit Union wants to switch to bank", Odessa American Online, 10/23/07.

"Another CU Aims to Become a Bank", Credit Union Times, 9/12/07.