San Diego County Credit Union in Calif. reported above standard ratios, stable assets and increased member growth during the second-quarter.
The $7.6 billion-asset credit union said in a press release Thursday that its net-worth-to-assets ratio for the second quarter was 13.8% percent, six basis point above the 7% minimum capital level required for credit unions to be deemed well-capitalized by the National Credit Union Administration.
"It was a solid first half of 2016 with continued progress in performance and growth for SDCCU," Teresa Halleck, the credit union's president and chief executive, said in the release.
SDCCU's member base grew more than 10.2% percent over the same time period last year. SDCCU has more than 325,000 customers at 39 branches and 30,000 ATMs.
"In addition to strong financial performance, SDCCU continues to see growth in new customers," Halleck said. "Much of the credit union's success is due to a continued focus on providing exceptional customer service while being a market leader, offering breakthrough banking products to meet the diverse needs of customers. We will continue to remain focused on being a market innovator while strategically managing costs."
