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San Diego County Credit Union wraps up first quarter 2015 with positive growth
Assets increased more than 6% from the same time last year; customer base grew over 8%
5/14/2015 12:00 a.m.
SDCCU releases positive first quarter financial results for 2015.
SDCCU reported that total assets rose 6.15 percent from the end of first quarter 2014 to $6.9 billion at the end of March 2015. Year-to-date return on assets remained strong at 1.30 percent in the first quarter. Year-over-year loan growth is at 24.92 percent. Additionally, SDCCU’s customer base continues to grow at 8.52 percent over the same time period in 2014.
SDCCU President and CEO Teresa Halleck said, “It was great to start 2015 with continued progress in performance and growth for SDCCU. The credit union continues to be a market leader and with an increase in both customers and assets, it’s evident that SDCCU remains top of mind for customers in need of breakthrough banking products to meet the demands of their daily lives.”
The net-worth-to-assets ratio for the first quarter was 13.43 percent, well above the 7 percent minimum capital level for credit unions regarded as “well-capitalized,” as specified by the National Credit Union Administration (NCUA), the independent federal agency that charters and supervises federal credit unions and insures savings in federal and most state-chartered credit unions in the U.S.
In addition to continued strong results, SDCCU has experienced several highlights so far this year. SDCCU is now proudly serving over 286,000 customers in San Diego, Riverside and Orange counties. SDCCU raised over $7,000 for the 5th Annual Credit Union SACTOWN Ten-Mile Run, locally benefiting Rady Children’s Hospital. The credit union sold a record number of vehicles at its Biggest Used Car Sale Ever held at the Del Mar Fairgrounds. In addition, SDCCU continues to be at the forefront of leveraging new technologies to serve customers with the launch of Apple PayTM and FICO® Scores for loan holders within the security of Internet Branch online banking.
SDCCU is still the reigning Guinness World RecordTM holder for the most paper collected and shredded in a 24-hour period. The next SDCCU Super Shred event is scheduled for July 25, 2015 at Qualcomm® Stadium where SDCCU plans to break the current world record.
San Diego County Credit Union is San Diego’s largest locally-owned financial institution serving San Diego, Riverside and Orange counties. SDCCU has assets of $6.9 billion, over 286,000 customers, more than 35 convenient branch locations and 30,000 surcharge-FREE ATMs. SDCCU provides breakthrough banking products that meet the demands of today’s lifestyle and delivers banking services that save customers money. SDCCU is leading the way, offering FREE Checking with eStatements, SDCCU Mobile Deposit, mortgage loans, auto loans, Visa® credit cards and business banking services. Federally insured by NCUA. Equal Housing Opportunity. Equal Opportunity Employer. For more information, visit www.sdccu.com.