Press
San Diego County Credit Union ends 2014 with positive growth
Commitment to delivering WOW customer service and breakthrough banking products to help customers live better contributed to growth
SAN DIEGO, CA (February 2, 2015) — San Diego County Credit Union® (SDCCU®), San Diego’s largest locally-owned financial institution, released financial results for 2014. SDCCU reported that total assets increased to more than $6.7 billion at the end of 2014, compared to $6.3 billion at the beginning of the calendar year. SDCCU customer base ended the year at 279,813, representing an increase of 8.44 percent from last year. Return on assets continues to be strong at 1.46 percent for the year 2014.
“These impressive results are indicative of our team’s dedication to delivering WOW customer service and breakthrough banking products to meet the needs of customers and the demands of their busy lifestyles,” said SDCCU President and CEO Teresa Halleck.
Additionally, the net-worth-to-assets ratio for 2014 was 13.45 percent, well above the 7 percent minimum capital level for credit unions regarded as “well-capitalized,” as specified by the National Credit Union Administration (NCUA), the independent federal agency that charters and supervises federal credit unions and insures savings in federal and most state-chartered credit unions in the U.S.
“SDCCU’s continued success stems from our focus on the customer. Our team is continually evaluating our products and services and leveraging new technologies to improve the financial health of customers and make their lives easier,” said Halleck. “With more than 20,000 new customers in 2014, it’s clear that this focus is encouraging people to make the switch from their big banks to SDCCU.”
According to the latest industry reports, SDCCU’s overall growth rate in membership was more than double the national average for credit unions in the U.S.—a result of several notable highlights throughout the year. In 2014, SDCCU was one of the first to market in San Diego with EMV credit cards. New Business Services were also launched including Square®, Clover® and Pogo>®, business bill pay, as well as SDCCU Mobile Deposit for business accounts.
SDCCU was voted BEST Credit Union in the U-T San Diego Readers Poll for the 15th year in a row. SDCCU also was honored as BEST Auto Loan Provider, Financial Planner, Mortgage Provider and Place to Work. SDCCU also was recognized at the 2014 Brand Diego awards hosted by SDX, San Diego’s premier advertising and marketing industry organization. Brand Diego is an awards program that recognizes outstanding San Diego brands and the marketing and advertising professionals who build those brands.
SDCCU continued to expand its footprint and access for customers by opening four new full-service branches located in North Park, San Ysidro, La Costa and the Balboa-Genesee area.
In addition, SDCCU won a second Guinness World Record®, which was set at its SDCCU Super Shred Event, for most paper collected in a 24-hour period at a single location. At the event, SDCCU collected and shredded 422,350 pounds of paper, protecting the community from identity theft and saving 3,590 trees.
The SDCCU Super Shred Event was just one of more than 180 non-profits and/or community events
or activities SDCCU supported in 2014. SDCCU was recognized for its initiatives that are achieving healthy, safe and thriving communities by being the first financial institution to be designated as a Live Well San Diego partner.
“Being an engaged community partner is a cornerstone of who we are at SDCCU. We remain focused on enhancing the areas where we operate and providing sound financial services to help individuals in our communities live better,” said Halleck.
San Diego County Credit Union is San Diego’s largest locally-owned financial institution serving San Diego, Riverside and Orange counties. SDCCU has assets of $6.7 billion, over 279,000 customers, more than 35 convenient branch locations and 30,000 surcharge-FREE ATMs. SDCCU provides breakthrough banking products that meet the demands of today’s lifestyle and delivers banking services that save customers money. SDCCU is leading the way, offering FREE Checking with eStatements, SDCCU Mobile Deposit, mortgage loans, auto loans, Visa® credit cards and business banking services. Federally insured by NCUA. Equal Housing Opportunity. Equal Opportunity Employer. For more information, visit www.sdccu.com.