Third quarter 2017 shows continued growth and success for San Diego County Credit Union
SDCCU is now proudly serving more than 365,000 customers in San Diego, Orange and Riverside counties
SAN DIEGO, CA (November 13, 2017) — San Diego County Credit Union® (SDCCU®), San Diego’s largest locally-owned financial institution, releases positive third quarter financial results for 2017. SDCCU reported that total assets rose 6.06 percent from the end of third quarter 2016 to $8.2 billion at the end of September 2017 and return on assets remains strong at 1.20 percent. Year-over-year loan growth is at 10.58 percent. Additionally, SDCCU’s customer base continues to grow at 10.43 percent over the same time period in 2016, surpassing 365,000 customers in Q3 2017.
“With SDCCU’s continued success and progress, it’s evident that customers are responding positively to our commitment to providing breakthrough banking products and exceptional customer service,” said SDCCU President and CEO Teresa Halleck. “We remain focused on improving the financial health of individuals in the communities we serve by providing sound financial services.”
The net-worth-to-assets ratio for the third quarter was 14.29 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 has experienced several highlights so far this year. SDCCU was named San Diego’s BEST Credit Union for the 18th consecutive year by readers of The San Diego Union-Tribune as well as BEST Auto Loan Provider, BEST Financial Planner and BEST Mortgage Provider. The credit union set its fifth and sixth Guinness World Records® titles for the most paper collected in a 24-hour-period and most paper shredded in eight hours —898,931 pounds of paper were collected at the annual SDCCU Super Shred Event. The event also raised over $4,000 for SDCCU Stuff the Bus, a program launched in partnership with the San Diego County Office of Education and iHeartMedia radio stations, Star 94.1, Channel 933, JAM’N 95.7 and KOGO AM 600 benefiting thousands of homeless students in San Diego. Overall, SDCCU Stuff the Bus yielded more than 6,400 backpacks and 215,000 schools supplies to help set local students up for success.
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 $11.1 billion, more than 438,000 customers, over 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.