(Riverside, Calif.) Nov. 20, 2017 *– Altura Credit Union today reported Net Income of $1.63 million on Total Assets of $1.287 billion for the quarter ended Sept. 30, 2017. Year-to-date, Altura reported Net Income of $8.091 million, an increase of 9.9 percent compared to the same period in 2016. Total assets also increased 4.8 percent over the comparable period last year. Additionally, Altura reported a Net Worth Ratio of 10.7 percent, up from 10.62 percent from the same period last year.
“Altura has experienced substantial revenue growth through the first nine months of 2017,” said Altura President and CEO Jennifer Binkley. “In particular, our year-over-year loan growth is very strong with our total loan balances increasing by 15.19 percent. While auto loans continue to be a mainstay of our loan business, during 2017 we focused on offering our Members more options for mortgage loans. We also introduced our Uphora Rewards Credit Card, something our Members told us they wanted,” she added.
Membership growth remains strong through the third quarter, especially among the population segment known as “millennials.” Binkley explained, “We created an internal marketing team of our own millennial-age employees to help us develop outreach campaigns to these potential members. The results have been incredibly successful. We are 127 percent over our 2017 target for new Members in this age group.”