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DCCU reports second-quarter growth

Edited by Chris Graham

DuPont Community Credit Union saw steady growth at the end of the second quarter of 2010 for total lending compared to the second quarter of 2009, it was announced today.

The Waynesboro-headquartered credit union, which operates nine branches in the Central Shenandoah Valley region, reported a 0.6 percent increase in total loans outstanding over the previous quarter and a 3.7 percent increase over the second quarter of 2009. This brings the amount of total loans to $583 million as of the end of the second quarter. Total real estate loans increased 1.2 percent during the second quarter of 2010, which includes $19.1 million funded during the second quarter.

DCCU also reported that the credit union’s equity or net worth ended the second quarter at $65.5 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.