San Diego County Credit Union’s membership grew to 300,000 customers by the end of September, a 10 percent increase from the year before, the credit union said in its third quarter earnings report.
SDCCU’s return on assets held steady at 1.3 percent, with assets topping $7 billion, an 8 percent increase from last year.
The credit union’s net-worth-to-assets ratio, a measure of the strength of an institution’s capital, was about 14 percent, nearly double the 7 percent minimum for well-capitalized credit unions, according to federal regulators.
“It’s evident that customers are responding positively to our focus on providing breakthrough banking products and exceptional customer service,” CEO Teresa Halleck said.
SDCCU is the county’s largest locally owned financial institution, the credit union said.