Credit Union reports growth in first quarter
The Waynesboro-headquartered credit union reported a 33.7% increase in the amount of loans funded during the first quarter compared to the first quarter of 2011, and a 0.2% decrease in total loans outstanding over the previous quarter. This brings the amount of total loans to $578.5 million as of the end of the first quarter.
Total real estate loans increased 0.4% during the first quarter of 2012 which includes $31.2 million funded during the first quarter.
DCCU also reported that the credit union’s equity or net worth ended the first quarter at $72.6 million, signifying its continued 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 (www.ncua.gov).