LAS VEGAS–For the first time since the recession, Clark County Credit Union said it has passed $600 million in assets, hitting $601 million as of the end of Q1.
CCCU had not seen that asset threshold since July of 2009.
Clark County CU reported it has experienced an annualized asset growth rate of 10.31% and a YTD loan growth rate of 12.13%. "We're enjoying a strong recovery and are pleased to see our membership feeling confident and having the capacity to borrow again," said President and CEO Matt Kershaw in a statement.
CCCU reported first quarter net income of $2.7 million, while its net worth rose to 12.10% with a better-than-peer ROAA of 1.82%.
CCCU noted that on the strength of the numbers it was able to pay a $3-million bonus in January.