DCCU reports loan growth in fourth quarter
The Waynesboro-headquartered credit union, which operates nine branches in the Central Shenandoah Valley region, reported that $41.6 million in loans were funded during the fourth quarter to bring the amount of total loans outstanding to $577.7 million as of the end of the year. $32.7 million in real estate loans were funded in the fourth quarter, which represents a 28.9 percent increase over the fourth quarter of 2009. This brings the total amount of real estate loans funded for the year to $116.4 million.
DCCU also reported that the credit union’s equity or net worth ended the fourth quarter at $67.7 million, signifying its continuing soundness. In addition, it maintained the designation as “well-capitalized” by the National Credit Union Administration (NCUA), the highest designation. NCUA is the federal government regulator of credit unions.
DCCU is a not-for-profit, full-service financial cooperative organized to serve the ever changing financial needs of all the members who own it. The Credit Union operates nine branches in the Central Shenandoah Valley region. For more information visit our website at www.mydccu.com.
Edited by Chris Graham. Chris can be reached at email@example.com.