Clark County Credit Union posts $2.3 million second-quarter profit

Clark County Credit Union on Wednesday posted second-quarter net income of $2.3 million, a nearly 28 percent increase from the $1.8 million reported for the same period last year.

Wayne Tew, president and CEO of CCCU, said the credit union’s quarterly profitability marked a return to pre-recession levels and is a strong indicator that the market is stabilizing.

“We feel really good about where we are positioned right now,” Tew said. “For the first half of this year, we’re seeing financial numbers not seen since 2007. Delinquency is down and loan growth is up for the first time in six years.”

Tew said he anticipates steady, positive circumstances for the next few years.

Based in Las Vegas, CCCU has assets of $496 million, with four branches and 33,000 members.

“We are definitely seeing the economy stabilize on our end,” Tew said. “This is a very good sign for Southern Nevada.”

Contact reporter Chris Sieroty at csieroty@reviewjournal.com or 702-477-3893. Follow @sierotyfeatures on Twitter.