DCCU sees continued growth in first quarter
The Waynesboro-headquartered credit union, which operates nine branches in the Central Shenandoah Valley region reported a 11.4 percent increase in the amount of loans funded during the first quarter compared to the first quarter of 2010, and a 0.6 percent decrease in total loans outstanding over the previous quarter. This brings the amount of total loans to $574.3 million as of the end of the first quarter. Total real estate loans increased 0.6 percent during the first quarter of 2011 which includes $24.2 million funded during the first quarter.
DCCU also reported that the credit union’s equity or net worth ended the first quarter at $69.1 million, signifying its continuing soundness. In addition, it maintained the designation as “well-capitalized” by the National Credit Union Administration, the highest designation. NCUA is the federal government regulator of credit unions.