DCCU reports strong third quarter

DuPont Community Credit Union reported growth in total loans outstanding for the third quarter for 2010.

The Waynesboro-headquartered credit union, which operates nine branches in the Central Shenandoah Valley region, reported a 7.4 percent increase in total loans funded over the previous quarter and a 1.2 percent increase over the total outstanding balances as of the third quarter of 2009. This brings the amount of total loans outstanding to $581.8 million as of the end of the third quarter.

Total real estate loans funded increased 32 percent over the previous quarter and 3.1 percent over the third quarter of 2009. This brings the total amount of real estate loans funded for the year to $83.6 million.

DCCU also reported that the credit union’s equity or net worth ended the third quarter at $66.7 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 (www.ncua.gov).

Edited by Chris Graham. Chris can be reached at freepress2@ntelos.net.

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