Arlington Agrees to Incentives for Credit Union Move

The Arlington City Council approved a 10-year tax abatement for Texas Trust Credit Union for up to 75% of property taxes for its move to the Skymark Tower at 1531 North Cooper St.

The Dallas Business Journal reports last summer the credit union bought the tower out of bankruptcy for $8.7 million. The credit union plans to move employees into the 124,000-square-foot building in 12-18 months and become its main occupier and to paint the top of the pyramid-shaped in Texas Trust blue. Texas Trust Credit Union is already based in Arlington at 5850 W. I-20 but management says it is outgrowing the building. Currently, that building offices 140 people, including the credit union’s call center.

For Texas Trust to receive the tax abatements, it has to spend at least $15 million on building improvements and occupy the building by Jan. 1, 2026. Those improvements include HVAC and elevator updates, lobby renovations and exterior improvements, according to the city’s resolution. Texas Trust would also have to create at least 175 jobs by July 1, 2026, and donate $200,000 each year to a local philanthropic event or organization.