Thursday, November 05, 2009
(Last modified: 2009-11-05 11:23:43)
 

Source: The Greeneville Sun

BY DOUGLAS WATSON

MANAGING EDITOR

Consumer Credit Union, which is based in Greeneville, this week reported that its assets total $219,882,446.

CCU in recent years has averaged loan losses of only .05 percent of average assets versus peer groups' losses of .85 percent of average assets, according to Sam Miller, the credit union's president.

He said that Consumer Credit Union "is truly well capitalized and we are very conservative in our lending, having few loan losses."

Miller said CCU maintains $793,371 as a reserve to cover any loan losses.

Consumer Credit Union's recent three-month report to the National Credit Union Association (NCUA) listed these assets: loans of $131,285,531, of which $75,900,083 is first-mortgage real estate loans, $32,006,451 is in new vehicle loans, and $17,200,451 is in used vehicle loans.

CCU also reported deposits of $193,738,507, capital of $24,383,266 and earnings through September of $1,577,070.

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