Texas Trust Credit Union has tripled in size since CEO Jim Minge joined the financial institution in 2011.
Minge’s approach has included a focus on employee empowerment and public service as the credit union has grown to more than $2 billion in assets and 136,000 members. His participation on civic and nonprofit boards has inspired employees to volunteer at record levels on behalf of Texas Trust, which is headquartered in Mansfield and serves seven North Texas counties, including Dallas County.
“Our mission here is building brighter financial futures,” Minge told The Dallas Express. “A successful day for me is continuing to define what that means. It’s a living, breathing mission.”
“We have continued to define what that means,” he added. “We want to ensure that we really are helping the communities and members we serve in achieving that brighter financial future goal.”
The issue of bank solvency became significant news earlier this year with the collapse of Silicon Valley Bank, creating jitters among depositors. The fallout has not been as severe among credit unions, Minge said.
“We would rather have a dollar from a million people … than a million dollars from one person,” the 57-year-old Minge said. “That is our philosophy. We don’t have the same concentration of big-dollar loans that caused problems for big banks.”
“Those banks had a lot of large, uninsured deposits,” he added. “We just don’t have that issue. We are very diverse in our lending and deposit products. Silicon Valley had 7% of its deposits insured. We have more than 93% of ours insured. We have a different model.”
Minge came to the metroplex from Randolph-Brooks Federal Credit Union in San Antonio. He said he became a CEO because of his wife, Patricia Elkins, and thanks to mentors earlier in his banking career.
“I had a lot of great people around me, and I married very well,” said Minge, whose wife was a certified public accountant before retiring.
Minge applied to be the CEO at Randolph-Brooks but was passed over for another candidate.
“That was fine,” Minge told The Dallas Express. “The gentleman they hired is fantastic, but it lit a fire under me that I should do that job. I wanted to be a CEO. I was lucky to find it here.”
Minge was just honored by the Dallas Business Journal as the region’s most-admired CEO.
“So many things go into leadership,” Minge said. “There have been many [things] written about it. I am a believer that I sit here as a servant to our employees and members. There is nothing special about me.”
“I do a lot less in our business most days than our employees on the front line. I never forget that,” he added. “When our members think about the credit union, they don’t think of Jim. They think of the people who help them in the branch or on the phone. If I have had success here, it is because we put a focus on our people first.”
Minge’s leadership at one of the state’s largest credit unions created community partnerships to fund school projects, granted hundreds of thousands of dollars in scholarships to high school and college students, and invested in multimillion-dollar sponsorships.
Texas Trust has funded initiatives for the performing arts, college athletics, and financial education. It made donations to many nonprofits, including Mission Arlington, the North Texas Food Bank, the American Cancer Society, and Toys for Tots.
“We spend a lot of time and effort on the education community,” Minge said. “I’m a firm believer that you can’t have a bright financial future without an education. It’s very difficult. We try to support local education to the best of our ability.”
Minge established the Texas Trust Gives Foundation in 2022. The credit union pledged $800,000 to support the foundation’s mission of helping schools, teachers, students, and families.
“The employees and members of Texas Trust are indebted to Jim Minge for his unwavering commitment,” Larry Skinner, board chairman of Texas Trust Credit Union, said in a statement after Minge was chosen as the most-admired CEO. “He has challenged and mentored each of us to do more than we ever thought possible. Through his dedication and drive to help us succeed he has made Texas Trust a fun and desirable place to work and bank.”
Minge said his favorite public-service project came in collaboration with the Arlington Independent School District in 2015. Superintendent Marcos Cavazos convinced the credit union to sponsor 100 first-time college students with a $1,000 scholarship.
“I took that back to our board — a $100,000 investment — and they agreed,” Minge said. “We got to know the students throughout their journey, and when they graduated high school, we gave them $1,000 with no strings attached.”
The credit union sponsored a party for the graduates and their families, served hot dogs and hamburgers, and brought fun activities like bounce castles.
“I will never forget that event,” Minge said.
As far as developing his own employees, Minge said it’s essential to invest in their careers so they know how to serve customers.
“It is a privilege to work with such an amazing group of people who are committed to building brighter financial futures for every one of our members,” Minge said.
