CCCU averages $1.1 million per month in earnings through second quarter
Clark County Credit Union (CCCU) ended the second quarter with average monthly earnings of $1.1 million for a total of $6.62 million for the year to date, officials said Thursday.
"We had such a strong year (2014) and I was very satisfied with our performance," President and CEO Wayne Tew said in a statement. "CCCU's second quarter reflects continued strength and our focus on the core essentials of long-term growth."
The credit union's previous year-end showed an average of $1 million per month in net growth for the 12-month period. CCCU's growth was enabled in part by a continuation of reduced loan loss provisions, reflective of improved commercial and consumer conditions in the market. Growth also played a factor, with the credit union reporting a 9.26 percent asset growth ratio.
Tew also commented on other indicators that highlighted lending activities for the term.
"I'm especially pleased with our 2.4 percent year-to date return on assets ratio and net worth at 11.95 percent," he said. "We always strive to fill our members' expectations of better rates, better services, and a share of the earnings when we deliver it."
Mark Andrews, CCCU's chief marketing officer, said the credit union has seen membership growth increase 8.5 percent this year.
Tew, who retires in August, also said that he expects to see a strong bonus dividend again in January.
