Report: DCCU grows loans in fourth quarter
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The Waynesboro-based credit union, which operates nine branches in the Central Shenandoah Valley region, reported a 1.4 percent increase in total loans outstanding over the previous quarter and a 12 percent increase over fourth quarter 2008.
This brings the amount of total loans to $582.4 million as of the end of the fourth quarter. This includes $21.0 million in real-estate loans funded during the fourth quarter. Total real-estate loans funded year-to-date increased 11.7 percent over year-to-date 2008.
DCCU also reported that the credit union’s equity or net worth ended the fourth quarter at $62.8 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.
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 www.mydccu.com.