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DCCU sees steady loan growth in fourth quarter 2011

DuPont Community Credit Union continued to see steady loan growth for the fourth quarter for 2011 compared to the same period for 2010.

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.

augusta free press
augusta free press