DCCU sees loan growth in third quarter
The Waynesboro-headquartered credit union, which operates 10 branches in the Central Shenandoah Valley region, reported a net increase of $9.5 million or 1.6% in total loans outstanding over the previous quarter. This brings the amount of total loans outstanding to $601.1 million as of the end of the third quarter.
Total real estate loans outstanding increased 0.4% during the third quarter and $28.2 million in originations were funded during the third quarter.
DCCU also reported that the credit union’s equity or net worth increased by 3.6% to end the third quarter at $77.6 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 (ncua.gov).
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. For more information visit our website at mydccu.com.