LAS VEGAS – Dale Johnson successfully turned around the $310 million Sun Community Federal Credit Union, and shared his efforts with attendees at NAFCU's Annual Conference.
Sun Community serves a low-income area in El Centro, Calif., located near the Mexican border. The primarily agricultural area has a 25% unemployment rate. Johnson, who started as CEO in 2010, said the credit union was in the red more than $1.5 million 2009. In 2013, Sun Community's profit was $2.4 million.
The credit union grew from earning $1.3 million per month in revenue to $6 million. Commercial loan originations at Sun Community are up 100% and its yield on investments is 1.80%.
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