Third Mid Quarter Year 2017 2018 West Virginia West Virginia First Quarter 2017 Prepared by: CUNA Economics and Statistics
Source: Datatrac, NCUA, and CUNA. (1)Assumes 2.1 credit union members per household.
Loan Product Comparative Interest Rates (%) by Loan Type 14.26 12.47 13.07 10.87 10.20 8.41 4.05 3.50 3.43 4.53 3.72 4.36 4.55 4.18 4.69 4.90 5.09 5.24 60-month new car (A paper) 48-month used car (A paper) Unsecured loan (A paper) 5-year adjustable rate 15-year fixed rate 1st 30-year fixed rate 1st 1st mortgage, 0 mortgage, 0 ptsmortgage, 0 pts pts Home equity / 2nd mtg, 80% LTV 0 pts Credit card - rewards Credit card - platinum West Virginia Credit Unions West Virginia Banks
Savings Product Comparative Interest Rates (%) by Savings Account Type Retirement (IRA) accounts 0.37 0.67 1 Year certificate $10,000 balance 0.60 1.00 Money market accounts 0.14 0.33 Share draft checking, $5,000 balance 0.12 0.10 Regular savings, $1,000 balance 0.11 0.15 West Virginia Credit Unions West Virginia Banks
Comparative Fees by Type $1,361.00 $1,151.00 $31.00 $30.21 $24.56 $34.18 Share draft checking, NSF fee Credit cards, late fee Mortgages, closing costs West Virginia Credit Unions West Virginia Banks
West Virginia Credit Union and Banking Institution September 2018 Average Interest Rates and Fees Average Rate at Average Rate Rate Difference Loan Products Credit Unions (%) at Banks (%) vs. Banks (%) 60-month new car (A paper) 3.50 4.05-0.56 48-month used car (A paper) 3.43 4.53-1.10 Unsecured loan (A paper) 8.41 10.87-2.46 5-year adjustable rate 1st mortgage, 0 pts 3.72 4.36-0.64 15-year fixed rate 1st mortgage, 0 pts 4.18 4.55-0.37 30-year fixed rate 1st mortgage, 0 pts 4.69 4.90-0.21 Home equity / 2nd mtg, 80% LTV 0 pts 5.09 5.24-0.15 Credit card - rewards 12.47 14.26-1.79 Credit card - platinum 10.20 13.07-2.86 Savings Products Regular savings, $1,000 balance 0.15 0.11 0.04 Share draft checking, $5,000 balance 0.12 0.10 0.02 Money market accounts 0.33 0.14 0.19 1 Year certificate $10,000 balance 1.00 0.60 0.40 Retirement (IRA) accounts 0.67 0.37 0.30 Fee Income Share draft checking, NSF fee $31.00 $30.21 $0.79 Credit cards, late fee $24.56 $34.18 -$9.62 Mortgages, closing costs $1,151.00 $1,361.00 -$210.00 Source: Datatrac
State Credit Union's Total Loan Rate Benefits Compared to State Banking Institutions by Loan Type $6,485,135 $3,004,073 $2,253,521 $1,646,766 $1,022,739 $423,174 $197,218 $826,639 New car loans Used car loans Personal unsecured loans 5-year adjustable rate 1st mortgage 15-year fixed rate 1st mortgage 30-year fixed rate 1st mortgage Home equity / 2nd mortgage loans Credit cards
State Credit Union's Total Savings Dividend Benefits Compared to State Banking Institutions by Account Type $1,997,756 $698,794 $711,210 $283,855 $71,374 Regular shares Share draft checking Money market accounts Certificate accounts Retirement (IRA) accounts
Rate Total Avg. Balance Difference Financial Benefit at vs. West Virginia to Your Loans Credit Unions (1) Banks (%) (2) Members New car loans 295,649,164-0.56 $1,646,766 Used car loans 590,094,132-1.10 $6,485,135 Personal unsecured loans 122,166,465-2.46 $3,004,073 5-year adjustable rate 1st mortgage 351,563,361-0.64 $2,253,521 15-year fixed rate 1st mortgage 276,415,946-0.37 $1,022,739 30-year fixed rate 1st mortgage 197,745,035-0.21 $423,174 Home equity / 2nd mortgage loans 128,063,760-0.15 $197,218 Credit cards 40,098,922-1.79 $826,639 Interest rebates $0 Total CU member benefits arising from lower interest rates on loan products: $15,859,266 Savings Regular shares 1,791,778,883 0.04 $698,794 Share draft checking 446,087,557 0.02 $71,374 Money market accounts 149,397,600 0.19 $283,855 Certificate accounts 496,954,146 0.40 $1,997,756 Retirement (IRA) accounts 240,273,657 0.30 $711,210 Bonus dividends in period $0 Total CU member benefit arising from higher interest rates on savings products: $3,762,989 Fee Income Estimated Financial Benefits for West Virginia Credit Unions September 2018 Total CU member benefit arising from fewer / lower fees: $1,369,095 Total CU member benefit arising from interest rates on loans, savings products and lower fees: $20,991,349 Total CU member benefit / member: $55 Total CU member benefit / member household: $116 Source: Datatrac, NCUA, and CUNA (1) Average balance as of September 2018 and September 2017, according to the NCUA call report.; (2) Source for rates and fees: Datatrac;
West Virginia Credit Union Performance Profile Demographic Information Sep 18 Sep 17 Number of branches 157 157 Total assets ($ mil) 3,702 3,652 Total loans ($ mil) 2,224 2,126 Total surplus funds ($ mil) 1,317 1,368 Total savings ($ mil) 3,187 3,154 Total members (thousands) 380 379 Growth Rates (Trailing 12 months) * Total assets 1.4 % 4.0 % Total loans 4.6 % 5.1 % Total surplus funds -3.7 % 2.2 % Total savings 1.0 % 3.6 % Total members 0.2 % -0.5 % Earnings - Basis Pts. * Yield on total assets 346 321 Dividend / interest cost of assets 45 40 Fee & other income 114 104 Operating expense 317 310 Loss Provisions 21 27 Net Income (ROA) after stabilization exp 77 49 Capital Adequacy Net worth / assets 12.6 12.1 Asset Quality * Delinquencies / loans 1.0 1.0 Net chargeoffs / average loans 0.3 0.4 Total borrower-bankruptcies 3 3 Bankruptcies per 1000 members 0.6 0.7 Asset/Liability Management Loans / savings 69.8 67.4 Loans / assets 60.1 58.2 Long-term assets / assets 26.8 26.1 Core deposits/shares & borrowings 70.8 69.5 Productivity Members / potential members 8.7 7.7 Borrowers / members 43.5 43.9 Members / FTE 373 371 Average shares / members ($) 8,384 8,314 Average loan balances ($) 13,450 12,759 Salary & Benefits / FTE 57,503 55,326 * Earnings, net chargeoffs, and bankruptcies are year-to-date numbers annualized. Due to significant seasonal variation, balance sheet growth rates are for the trailing 12 months.