San Diego County Credit Union on Wednesday released what it said were “positive” financial results for the second quarter of 2018.
SDCCU said its total assets were $8.4 billion as of June 30, 2018, same as what it reported at the end of the first quarter this year. It said Q2 return on assets “remains strong” at 1.3 percent.
In addition, SDCCU said its member base grew by more than 10 percent in Q2 2018 compared to the same time period in 2017. It now serves more than 393,000 members in San Diego, Riverside and Orange counties.
More highlight numbers: SDCCU’s net-worth-to-assets ratio for the second quarter was 14.9 percent, which it noted was well above the 7 percent minimum capital level for credit unions regarded as “well-capitalized,” as specified by the National Credit Union Administration.
“SDCCU experienced positive growth during the first half of 2018, and we are excited for the opportunity to serve even more members of the community,” Teresa Halleck Campbell, SDCCU’s president and CEO, said in a statement. “As we grow, it remains a priority for SDCCU to continue to elevate awareness of our brand in the community, enhance our online technologies and expand our branch network, making financial services more convenient and accessible for customers in Southern California.”
SDCCU reported several highlights to date for 2018, including being named BEST Credit Union, BEST Auto Loan Provider, BEST Financial Planner and BEST Home Loan Provider in The San Diego Union-Tribune Readers Poll. The credit union also was named a Live Well San Diego Public Health Champion, received the Spirit of Stonewall Award and was recognized with the North San Diego Business Chamber’s Impact Award. Ashlee Micale, an SDCCU EVP, was named CFO of the Year by the San Diego Business Journal.
SDCCU continued its support of local communities and causes, including becoming the title sponsor of the OC Marathon, and raised more than $6,000 for the National MS Society and had over 100 walkers participate in SDCCU Walk MS San Diego and Carlsbad events. SDCCU Dining Deals reached more than 51,000 meals donated to Feeding America San Diego in the second quarter of 2018.
In addition, SDCCU said it held a “successful” 2018 SDCCU Super Shred Event, where more than 500,000 lbs. of paper was collected, shredded and recycled. Approximately 11,000 people turned out at SDCCU Stadium on June 16 to properly dispose of confidential information, and more than $5,800 was raised for SDCCU Stuff the Bus – benefitting students experiencing homelessness in San Diego.
San Diego County Credit Union is San Diego’s largest locally-owned financial institution, with 43 branch locations and 30,000 surcharge-free ATMs.
