Centra Credit Union 2011 Assets Steadily Advancing
May 12, 2011
Columbus, IN – Centra’s total assets climbed to more than $953.1 million by 1st quarter-end, an increase over the prior year of 7.38%. Centra also recorded net income of $2.0 million for the quarter, with a net worth ratio of 10.88%, significantly above required the capital adequacy level of 7%. Centra’s deposit balances grew to $810.8 million, representing 7.93% growth over prior year. Additionally, loan balances grew to $497.8 million.
“With the growth we have experienced and a strong .87% Return on Assets, Centra continues to demonstrate solid financial performance,” said Loretta M. Burd, Centra Credit Union’s president and chief executive officer. “Like most businesses, Centra has been challenged by current economic conditions. But our members have continued to show that we provide a real value to them.”
Centra has also, once again, earned a 5-Star rating by Bauer Financial, Inc., the nation’s leading independent credit union rating and research firm. This is the 64th consecutive quarter that Centra Credit Union has merited this highest honor. The 5-Star rating is based on the financial condition of the credit union and indicates that Centra Credit Union is one of the strongest financial institutions in the country. Centra Credit Union has the added distinction of being an “Exceptional Performance Credit Union” for having earned this highest distinction for ten years or longer.
Centra operates 22 branches throughout Central and Southern Indiana, and offers a full range of banking services including many Savings and Checking options, Auto Loans, Mortgage Loans, Business Loans and Deposits, as well as Financial Management Services. Founded in 1940, Centra Credit Union has more than 122,000 members, 264 employees, and is the fifth largest credit union in Indiana.