Leominster Credit Union assets rise to $627M
The Leominster Credit Union reported its assets and loan portfolio saw steady growth to $627 million and $419 million, respectively, in 2015 while deposits declined slightly.
The announcement of the credit union’s 2015 performance was made in the president’s report at the company’s annual meeting in April and announced this week. Total assets ending 2015 increased to $627 million from $621 million at the end of 2014. LCU’s loan portfolio increased to $419 million in 2015 from $408 million in 2014.
The credit union has a capital/asset ratio of 8.61 percent, according to the release, making it a Well Capitalized Financial Institution by its primary regulator, the Massachusetts Division of Banks.
Deposits, however, decreased slightly to $436 million in 2015 from $443 million in 2014.
WBJ Web Partners
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