DCCU sees steady loan growth in fourth quarter 2011
The Waynesboro-headquartered credit union, which operates 10 branches in the Central Shenandoah Valley region, reported that $46.5 million in loans were funded during the fourth quarter to bring the amount of total loansoutstanding to $579.5 million as of the end of the year.
$37.3 million in real estate loans were funded, including $4.0 million in business real estate loans, in the fourth quarter which represents a 13.9 percent increase over the fourth quarter of 2010. This brings the total amount of real estate loans funded for the year to $113.5 million.
DCCU also reported that the credit union’s equity or net worth ended the fourth quarter at $73.6 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.