Home / Business / Credit Union Loans Hit $10 Billion in San Diego County

Credit Union Loans Hit $10 Billion in San Diego County

Mortgages, Business, Auto, and Credit Cards

San Diego County CA— The California Credit Union League has released data reflecting the economic role 361 California-based credit unions play within their communities. All information is a snapshot of publicly-filed balance sheet data as of June 30, 2015. Percentages reflect year-over-year (June 30, 2014 – June 30, 2015).

San Diego County

21 credit unions are headquartered in the county. They serve 916,429 members—a 4.9 percent year-over-year increase (or 42,666 new members).

As of June 30, 2015, these 21 credit unions collectively:

  • Had approximately $10 billion loaned-out within the local community—a 7 percent year-over-year increase (first mortgages, HELOCs, business loans, auto loans, and credit cards). Here’s the breakdown in growth areas:
  • 9 percent increase in first mortgages/HELOCs
  • 1 percent increase in business loans
  • 5 percent increase in new auto loans
  • 4 percent increase in used auto loans
  • 9 percent increase in credit card lending
  • (Loan percentage increases are year-over-year and reflect dollar amounts. Dollar amounts are available upon request.)
  • Held $13.3 billion in deposits for local consumers (checking accounts, savings accounts, CDs, IRAs, Keogh retirement accounts, and local government checking/savings accounts when applicable). This is a 5 percent year-over-year increase.
  • Spent $1.34 billion* on employees and operations (employee payroll, benefits, property, office equipment, occupancy, and vendor contracts). *Estimated annual figure based on quarterly data
  • Employed 2,676 individuals (a 7 percent year-over-year increase).

About the California Credit Union League

The California Credit Union League is based in Ontario, CA and is the state trade association for 361 credit unions headquartered in California. The League represents the interests of nearly 10 million credit union members across the state who are member-owners of their credit unions. Credit unions help consumers afford life and prosper.