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Third quarter 2015 shows continued growth and success for San Diego County Credit Union
SDCCU® reaches two milestones in Q3; assets exceed $7 billion and customer base surpasses 300,000
11/18/2015 12:00 a.m.
SDCCU releases positive third quarter financial results for 2015. SDCCU reported that total assets rose 7.61 percent from the end of third quarter 2014 to $7 billion at the end of September 2015 and return on assets remains strong at 1.26 percent. Year-over-year loan growth is at 18.54 percent. Additionally, SDCCU’s customer base continues to grow at 9.54 percent over the same time period in 2014.
“SDCCU reached two significant milestones in third quarter. We are now serving over 300,000 customers throughout Southern California and our assets have exceeded $7 billion,” said Teresa Halleck, SDCCU president and CEO. “With SDCCU’s continued success and progress, it’s evident that customers are responding positively to our focus on providing breakthrough banking products and exceptional customer service. SDCCU remains committed to improving the financial health of individuals in the communities we serve.”
The net-worth-to-assets ratio for the third quarter was 13.68 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 reaching two major milestones, SDCCU has experienced several other highlights so far this year. SDCCU was named San Diego’s BEST Credit Union for the 16th consecutive year by readers of the San Diego Union-Tribune and Best Local Credit Union by San Diego CityBeat. The credit union set its third Guinness World Record® for the most paper collected in a 24-hour-period at a single location—over 584,000 pounds of paper were collected at the annual SDCCU Super Shred Event. The event also raised over $8,000 for the San Diego Humane Society and SPCA. Nearly 3,500 schools supplies were collected for local students and teachers through the SDCCU Stuff the Bus campaign, part of the credit union’s ongoing Classroom HeroesTM program. SDCCU also announced Biz Kid$ as the beneficiary of the 2015 San Diego County Credit Union Poinsettia Bowl. One dollar from every ticket sold to the game will be donated to teach kids in San Diego about money and business. The San Diego County Credit Union Poinsettia Bowl is the only college football bowl game among America’s 41 college football bowl games to have a credit union as a title sponsor.
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 $7.1 billion, over 300,000 customers, 38 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 banking, mortgage loans, auto loans, Visa® credit cards and business banking services. Federally insured by NCUA. Equal Housing Opportunity. For more information, visit www.sdccu.com.