Coast Central CU reports 1st-quarter results

May 07, 2008 12:00 am

Coast Central Credit Union assets grew in the first quarter by $28.9 million to total of more than $740 million, the institution reported.

Deposits increased by $23.6 million to a total of $598 million, the credit union said.

Coast Central, as a member-owned financial cooperative, serves more than 51,000 members in Humboldt, Del Norte and Trinity counties.

During the first three months of 2008, $48.8 million in loans were funded, compared to last year's first-quarter total of $42.9 million. Coast Central's total loans increased to $379.4 million.

The loan delinquency ratio was extremely low at 0.38 percent, the credit union said.

Total capital and reserves stand at $96.8 million, a $3.2 million increase in the first quarter, the credit union said.Year to date, the credit union has added 293 members compared to 234 members last year.

Coast Central Credit Union was established in 1950 and today serves the tri-county area through 11 member services branches.