Go to:

April 2019
< Mar May >
Leaguer Email Subscription

You are not currently subscribed. Click Subscribe below to receive the Leaguer email.

Security Service Federal Credit Union Reaches $7 Billion in Loans
Thursday, October 10, 2013 6:35 AM

Security Service FCU (SSFCU) has announced a new lending milestone - $7 billion in loans – with more than three-fourths of its portfolio in indirect lending. 

Contributing to this success is SSFCU’s commitment to be first in service.

“We have built strong relationships over the years with members, and those relationships have driven the way we do business,” said Jim Laffoon, SSFCU president. “We remain steadfast in our commitment to providing the finest service and transactional convenience for our members whether they are buying a car, starting a business or purchasing a home.”

Established in 1956 with just eight members and $25 in deposits, SSFCU approved its first loan five months after opening, reaching $20 million dollars in loans by 1966.  SSFCU is currently the number one auto lender and fifth largest mortgage lender in San Antonio and is ranked fifth nationally in dealer satisfaction by JD Power.

“We are humbled by our members’ continued loyalty and trust in Security Service over the years,” said Laffoon. “Without it, we would never have reached this milestone.” 

Following is a snapshot of credit union growth in the Cornerstone region:

  YoY % Growth YoY Actual Growth 6 Mo % Growth 6 Mo Actual Growth
Assets 5.57% $4.96 billion 3.56% $3.23 billion
Total Loans 7.84% $4.20 billion 3.47% 1.94 billion
Total Deposits 5.84% $4.52 billion 3.85% $3.04 billion
Total Equity 6.43% $558 million 2.46% $222 million
Total Real Estate Loans 4.57% $789 million 2.29% $405 million
Total Capital 5.13% $474 million 1.87% $178 million