San Diego County Credit Union’s year-end report reflects continued growth
Continued commitment to improvement, service and the community sustains SDCCU’s steady growth
SAN DIEGO, CA (March 8, 2019) — San Diego County Credit Union® (SDCCU®), San Diego’s largest locally-owned financial institution, released financial results for 2018. SDCCU’s customer base ended the year at 403,674, welcoming more than 29,456 new customers and representing an increase of 7.87 percent from last year. SDCCU reported that total assets were $8.2 billion at the end of 2018. Return on assets continues to be strong at 1.30 percent for the year 2018.
“These notable results represent continued growth for SDCCU in 2018, which is a direct reflection of the effort our team puts into delivering exceptional customer service and providing breakthrough banking products that help save our customers time and money,” said Teresa Campbell, SDCCU President and CEO.
Additionally, the net-worth-to-assets ratio for 2018 was 16.04 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 overall growth rate in membership was more than double the national average for credit unions in the U.S., fueled by several highlights throughout the year. At the end of the year, SDCCU reached a milestone – now serving over 400,000 members!
In 2018, SDCCU continued its Financial Wellness Wednesdays seminar series to help the community make educated financial decisions by delivering the BEST financial education, products and services. SDCCU also remained the title sponsor of the San Diego County Credit Union Holiday Bowl played in December at SDCCU Stadium. Attended by more than 47,000 football fans, $1 from each ticket sold to SDCCU Holiday Bowl was donated, raising more than $47,000 for SDCCU Biz Kid$ program to help teach kids in San Diego about money and business.
SDCCU was voted in The San Diego Union-Tribune Readers Poll as BEST Credit Union for the 19th year in a row, BEST Auto Loan Provider for the fourth year and BEST Financial Planner and BEST Home Loan Provider for the ninth year in a row; the SDCCU Visa® Signature Card was named the Best Card for Reward Points by CardRates.com, Internet branch online banking members can now dispute transactions, notify SDCCU of travel plans and add or update beneficiary information, making it more convenient for customers to manage finances. Additionally, a new SDCCU.com was launched with a responsive design and improved functionality. SDCCU was recognized as one of San Diego’s Best and Brightest in Wellness by the National Association for Business Resources; selected as a Live Well San Diego Public Health Champion; received the Spirit of Stonewall Award; honored with the North San Diego Business Chamber’s Impact Award; recognized as BEST Credit Union by San Diego CityBeat Uptown News, Star News and San Diego Downtown News; and received the National MS Society Impact Award. SDCCU EVP, Ashlee Micale was named CFO of the Year by the San Diego Business Journal. SDCCU President and CEO Teresa Campbell was awarded the Bronze Stevie Award for Female Executive of the Year, was selected as a 2018 Business Women of the Year by the San Diego Business Journal and was also named on the SD500 by the San Diego Business Journal.
About San Diego County Credit Union (SDCCU)
SDCCU is one of the nation’s top credit unions, proudly serving the financial needs of customers in Southern California counties including Imperial, Los Angeles, Orange, Riverside, San Bernardino, San Diego, San Luis Obispo, Santa Barbara, and Ventura. SDCCU has assets of $11.2 billion, over 437,000 customers, more than 40 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 banking, mortgage loans, auto loans, Visa® credit cards, and business banking services. Federally insured by NCUA. Equal Housing Opportunity. NMLS #580585. For more information, visit www.sdccu.com.