LAS VEGAS – Clark County Credit Union on Friday said it had a "great year" in 2015, which allowed it to pay its members a bonus dividend of more than $3 million.
Clark County CU said its assets "remained strong" and showed continued improvement, ending the fourth quarter at $586,124,403. The figure marked growth of 7.74% for the year. The CU ended 2015 with a "healthy" net worth ratio of 12.48% (11.95% after the dividend), which management characterized as a "solid increase" from the ratio of 11.77%, as of Dec. 31, 2014.
Matt Kershaw, CCCU's president and CEO, said the credit union had 23.5% loan growth and 8% new member growth last year.
"We are pleased with the results of 2015 and look forward to another successful year," he said to members and staff in attendance at the CU's annual meeting on Thursday. "We had a strong year of loan and new member growth. We are back up to more than 37,000 members, which is where we were in years preceding the recession."
Eric Jorgensen, CCCU's chairman of the board, announced at the annual meeting the bonus dividend for 2015 totaled $3,081,722.77. The bonus was deposited into members' accounts on Jan. 22.
The average bonus was $83 per member, with the highest single bonus totaling more than $16,000. Clark County CU noted every qualified member received at least $20.
According to Mark Andrews, chief marketing officer, members in good standing received a share of the bonus based on the amounts of interest earned and paid on deposits and loans. "Our members are our owners, and we love being able to share our net earnings as a reward for member loyalty and participation," Andrews said.
Founded in 1951, Clark County Credit Union serves more than 37,000 Clark County, City of Henderson, City of Las Vegas and City of North Las Vegas employees, medical professionals, members of Nevada Public Radio (KNPR), and numerous selected employer groups, through six branches throughout Southern Nevada.
