Mid-Year 2017 2018 Florida Florida 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 13.47 12.65 10.94 9.42 9.39 9.65 4.45 4.94 3.99 4.05 4.30 4.27 4.72 4.62 4.79 5.38 2.92 3.13 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 Florida Credit Unions Florida Banks
Savings Product Comparative Interest Rates (%) by Savings Account Type Retirement (IRA) accounts 0.47 0.57 1 Year certificate $10,000 balance 0.80 0.91 Money market accounts 0.13 0.24 Share draft checking, $5,000 balance 0.09 0.16 Regular savings, $1,000 balance 0.12 0.17 Florida Credit Unions Florida Banks
Comparative Fees by Type $1,361.00 $1,151.00 $31.56 $32.17 $24.56 $34.18 Share draft checking, NSF fee Credit cards, late fee Mortgages, closing costs Florida Credit Unions Florida Banks
Florida Credit Union and Banking Institution June 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) 2.92 4.45-1.54 48-month used car (A paper) 3.13 4.94-1.81 Unsecured loan (A paper) 9.42 9.39 0.03 5-year adjustable rate 1st mortgage, 0 pts 3.99 4.05-0.06 15-year fixed rate 1st mortgage, 0 pts 4.30 4.27 0.03 30-year fixed rate 1st mortgage, 0 pts 4.72 4.62 0.11 Home equity / 2nd mtg, 80% LTV 0 pts 4.79 5.38-0.59 Credit card - rewards 10.94 13.47-2.52 Credit card - platinum 9.65 12.65-3.00 Savings Products Regular savings, $1,000 balance 0.17 0.12 0.05 Share draft checking, $5,000 balance 0.16 0.09 0.07 Money market accounts 0.24 0.13 0.10 1 Year certificate $10,000 balance 0.91 0.80 0.11 Retirement (IRA) accounts 0.57 0.47 0.11 Fee Income Share draft checking, NSF fee $31.56 $32.17 -$0.61 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 $192,736,862 $134,341,806 $72,098,605 $2,860,245 $16,883,764 -$439,558 -$1,333,921 -$5,998,793 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 $11,468,146 $10,950,587 $9,360,693 $5,924,892 $4,203,682 Regular shares Share draft checking Money market accounts Certificate accounts Retirement (IRA) accounts
Rate Total Avg. Balance Difference Financial Benefit at vs. Florida to Your Loans Credit Unions (1) Banks (%) (2) Members New car loans 8,746,211,332-1.54 $134,341,806 Used car loans 10,636,692,176-1.81 $192,736,862 Personal unsecured loans 1,373,617,884 0.03 -$439,558 5-year adjustable rate 1st mortgage 4,767,074,287-0.06 $2,860,245 15-year fixed rate 1st mortgage 4,042,184,645 0.03 -$1,333,921 30-year fixed rate 1st mortgage 5,554,437,668 0.11 -$5,998,793 Home equity / 2nd mortgage loans 2,851,987,231-0.59 $16,883,764 Credit cards 2,729,456,942-2.52 $72,098,605 Interest rebates $282,550 Total CU member benefits arising from lower interest rates on loan products: $411,431,561 Savings Regular shares 21,638,011,602 0.05 $11,468,146 Share draft checking 8,977,109,605 0.07 $5,924,892 Money market accounts 10,631,637,604 0.10 $10,950,587 Certificate accounts 8,211,134,035 0.11 $9,360,693 Retirement (IRA) accounts 3,874,361,306 0.11 $4,203,682 Bonus dividends in period $0 Total CU member benefit arising from higher interest rates on savings products: $41,908,000 Fee Income Estimated Financial Benefits for Florida Credit Unions June 2018 Total CU member benefit arising from fewer / lower fees: $44,111,960 Total CU member benefit arising from interest rates on loans, savings products and lower fees: $497,451,521 Total CU member benefit / member: $89 Total CU member benefit / member household: $186 Source: Datatrac, NCUA, and CUNA (1) Average balance as of June 2018 and June 2017, according to the NCUA call report.; (2) Source for rates and fees: Datatrac;
Florida Credit Union Performance Profile Demographic Information Jun 18 Jun 17 Number of branches 971 972 Total assets ($ mil) 65,412 61,528 Total loans ($ mil) 44,806 40,568 Total surplus funds ($ mil) 17,524 18,073 Total savings ($ mil) 55,660 52,670 Total members (thousands) 5,717 5,510 Growth Rates (Trailing 12 months) * Total assets 6.5 % 8.4 % Total loans 10.5 % 11.6 % Total surplus funds -2.7 % 2.1 % Total savings 5.8 % 8.8 % Total members 3.9 % 3.8 % Earnings - Basis Pts. * Yield on total assets 344 327 Dividend / interest cost of assets 48 44 Fee & other income 173 168 Operating expense 331 333 Loss Provisions 44 42 Net Income (ROA) after stabilization exp 94 76 Capital Adequacy Net worth / assets 10.8 10.6 Asset Quality * Delinquencies / loans 0.5 0.6 Net chargeoffs / average loans 0.6 0.6 Total borrower-bankruptcies 31 28 Bankruptcies per 1000 members 0.7 0.7 Asset/Liability Management Loans / savings 80.5 77.0 Loans / assets 68.5 65.9 Long-term assets / assets 27.6 28.1 Core deposits/shares & borrowings 57.1 55.8 Productivity Members / potential members 2.9 3.0 Borrowers / members 57.5 55.7 Members / FTE 379 379 Average shares / members ($) 9,737 9,558 Average loan balances ($) 13,626 13,224 Salary & Benefits / FTE 70,036 68,581 * 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.