News Briefs: U.S. Central Reports Record Income For Second Quarter
U.S. Central Credit Union reported that net income for the second quarter totaled $22.7 million, compared to $9.3 million from the second quarter of 2004. Total assets were $34.3 billion at the end of the second quarter 2005, down from the second quarter of 2004 when assets were at $38.2 billion. U.S. Central said it saw significant growth in loans, with average loans per day during the second quarter 2005 at $775 million, compared to $450 million during the same time last year. "The second quarter brought in some remarkable loan volumes," said David Dickens, interim CEO of U.S. Central. "We had several days where loan volumes exceeded $2 billion...We are seeing liquidity needs that are beginning to exceed normal seasonal trends."