VENTURA COUNTY, Calif. — Ventura County Credit Union is reporting “tremendous growth and success” in 2019.
The credit union ended the year with $905 million in assets and a net income of $9.3 million. This represents a positive trend for the credit union, as 2018 was also a record year for VCCU’s net income, the credit union said.
In addition, during 2019 VCCU had a return on assets = of 1.06% and a net worth of 9.80%, and the delinquency ratio remained low at 0.70%. Contributing significantly to the credit union’s success was the nearly $100 million in real estate lending and $26 million in business lending VCCU accomplished in 2019.
“Our goal is always to be able to offer more for those we serve,” said Joe Schroeder, president and CEO of VCCU. “The financial success we saw in 2019 will allow us to continue to give back to our community, as well as provide more digital options, low fees and loan rates, and high payouts on our members’ investments. We look forward to making 2020 another great year.”