Third Mid Quarter Year 2017 2018 North Dakota North Dakota 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 14.82 13.39 11.44 9.48 8.51 8.31 4.63 4.65 3.63 3.63 3.76 4.06 4.23 4.32 4.64 4.74 4.98 5.67 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 North Dakota Credit Unions North Dakota Banks
Savings Product Comparative Interest Rates (%) by Savings Account Type Retirement (IRA) accounts 0.49 0.76 1 Year certificate $10,000 balance 0.82 1.30 Money market accounts 0.16 0.22 Share draft checking, $5,000 balance 0.10 0.09 Regular savings, $1,000 balance 0.10 0.12 North Dakota Credit Unions North Dakota Banks
Comparative Fees by Type $1,361.00 $1,151.00 $28.33 $28.60 $24.56 $34.18 Share draft checking, NSF fee Credit cards, late fee Mortgages, closing costs North Dakota Credit Unions North Dakota Banks
North Dakota 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) 3.63 4.63-1.00 48-month used car (A paper) 3.63 4.65-1.01 Unsecured loan (A paper) 8.51 8.31 0.21 5-year adjustable rate 1st mortgage, 0 pts 3.76 4.06-0.30 15-year fixed rate 1st mortgage, 0 pts 4.23 4.32-0.09 30-year fixed rate 1st mortgage, 0 pts 4.64 4.74-0.10 Home equity / 2nd mtg, 80% LTV 0 pts 4.98 5.67-0.69 Credit card - rewards 11.44 14.82-3.38 Credit card - platinum 9.48 13.39-3.91 Savings Products Regular savings, $1,000 balance 0.10 0.12-0.02 Share draft checking, $5,000 balance 0.10 0.09 0.02 Money market accounts 0.22 0.16 0.06 1 Year certificate $10,000 balance 1.30 0.82 0.49 Retirement (IRA) accounts 0.76 0.49 0.27 Fee Income Share draft checking, NSF fee $28.33 $28.60 -$0.27 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 $4,123,082 $2,605,649 $1,091,740 $1,289,492 $1,537,229 $108,327 $65,229 -$66,638 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 $3,075,820 $119,292 $296,161 $359,827 -$179,302 Regular shares Share draft checking Money market accounts Certificate accounts Retirement (IRA) accounts
Rate Total Avg. Balance Difference Financial Benefit at vs. North Dakota to Your Loans Credit Unions (1) Banks (%) (2) Members New car loans 109,502,462-1.00 $1,091,740 Used car loans 407,419,143-1.01 $4,123,082 Personal unsecured loans 32,348,706 0.21 -$66,638 5-year adjustable rate 1st mortgage 871,454,484-0.30 $2,605,649 15-year fixed rate 1st mortgage 124,513,992-0.09 $108,327 30-year fixed rate 1st mortgage 67,946,980-0.10 $65,229 Home equity / 2nd mortgage loans 186,073,846-0.69 $1,289,492 Credit cards 43,758,305-3.38 $1,537,229 Interest rebates $215,262 Total CU member benefits arising from lower interest rates on loan products: $10,969,371 Savings Regular shares 943,693,153-0.02 -$179,302 Share draft checking 745,575,833 0.02 $119,292 Money market accounts 519,581,321 0.06 $296,161 Certificate accounts 634,189,731 0.49 $3,075,820 Retirement (IRA) accounts 132,777,481 0.27 $359,827 Bonus dividends in period $0 Total CU member benefit arising from higher interest rates on savings products: $3,671,799 Fee Income Estimated Financial Benefits for North Dakota Credit Unions September 2018 Total CU member benefit arising from fewer / lower fees: $1,492,519 Total CU member benefit arising from interest rates on loans, savings products and lower fees: $16,133,689 Total CU member benefit / member: $78 Total CU member benefit / member household: $164 Source: Datatrac, NCUA, and CUNA (1) Average balance as of September 2018 and September 2017, according to the NCUA call report.; (2) Source for rates and fees: Datatrac;
North Dakota Credit Union Performance Profile Demographic Information Sep 18 Sep 17 Number of branches 122 117 Total assets ($ mil) 3,733 3,632 Total loans ($ mil) 2,713 2,598 Total surplus funds ($ mil) 835 876 Total savings ($ mil) 3,174 3,095 Total members (thousands) 211 213 Growth Rates (Trailing 12 months) * Total assets 8.3 % 7.1 % Total loans 10.8 % 4.4 % Total surplus funds -1.3 % 17.4 % Total savings 8.2 % 6.9 % Total members 5.1 % 5.6 % Earnings - Basis Pts. * Yield on total assets 395 365 Dividend / interest cost of assets 43 37 Fee & other income 105 96 Operating expense 347 323 Loss Provisions 24 50 Net Income (ROA) after stabilization exp 86 51 Capital Adequacy Net worth / assets 13.0 12.5 Asset Quality * Delinquencies / loans 1.2 1.4 Net chargeoffs / average loans 0.2 0.2 Total borrower-bankruptcies 3 3 Bankruptcies per 1000 members 0.5 0.5 Asset/Liability Management Loans / savings 85.5 83.9 Loans / assets 72.7 71.5 Long-term assets / assets 33.7 33.2 Core deposits/shares & borrowings 55.0 53.6 Productivity Members / potential members 11.4 11.9 Borrowers / members 54.4 53.9 Members / FTE 218 230 Average shares / members ($) 15,007 14,546 Average loan balances ($) 23,580 22,642 Salary & Benefits / FTE 73,517 70,671 * 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.