Mid-Year 2017 2018 Iowa Iowa 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 13.21 11.70 10.45 10.90 9.64 9.63 4.49 3.45 3.55 4.70 4.22 3.91 4.06 4.21 4.55 4.63 4.67 5.17 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 Iowa Credit Unions Iowa Banks
Savings Product Comparative Interest Rates (%) by Savings Account Type Retirement (IRA) accounts 0.49 0.64 1 Year certificate $10,000 balance 0.81 1.05 Money market accounts 0.18 0.23 Share draft checking, $5,000 balance 0.14 0.12 Regular savings, $1,000 balance 0.16 0.15 Iowa Credit Unions Iowa Banks
Comparative Fees by Type $1,361.00 $1,151.00 $29.56 $30.86 $24.56 $34.18 Share draft checking, NSF fee Credit cards, late fee Mortgages, closing costs Iowa Credit Unions Iowa Banks
Iowa 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) 3.45 4.49-1.04 48-month used car (A paper) 3.55 4.70-1.15 Unsecured loan (A paper) 9.64 10.45-0.81 5-year adjustable rate 1st mortgage, 0 pts 3.91 4.22-0.32 15-year fixed rate 1st mortgage, 0 pts 4.06 4.21-0.15 30-year fixed rate 1st mortgage, 0 pts 4.55 4.63-0.08 Home equity / 2nd mtg, 80% LTV 0 pts 4.67 5.17-0.50 Credit card - rewards 10.90 13.21-2.31 Credit card - platinum 9.63 11.70-2.07 Savings Products Regular savings, $1,000 balance 0.16 0.15 0.01 Share draft checking, $5,000 balance 0.14 0.12 0.02 Money market accounts 0.23 0.18 0.06 1 Year certificate $10,000 balance 1.05 0.81 0.24 Retirement (IRA) accounts 0.64 0.49 0.15 Fee Income Share draft checking, NSF fee $29.56 $30.86 -$1.30 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 $39,532,346 $16,471,662 $13,704,465 $10,804,555 $7,970,669 $1,802,758 $1,560,235 $491,224 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 $10,031,646 $551,697 $356,986 $1,454,828 $1,167,551 Regular shares Share draft checking Money market accounts Certificate accounts Retirement (IRA) accounts
Rate Total Avg. Balance Difference Financial Benefit at vs. Iowa to Your Loans Credit Unions (1) Banks (%) (2) Members New car loans 1,583,813,618-1.04 $16,471,662 Used car loans 3,452,606,625-1.15 $39,532,346 Personal unsecured loans 223,390,144-0.81 $1,802,758 5-year adjustable rate 1st mortgage 4,296,070,685-0.32 $13,704,465 15-year fixed rate 1st mortgage 1,076,023,979-0.15 $1,560,235 30-year fixed rate 1st mortgage 606,449,384-0.08 $491,224 Home equity / 2nd mortgage loans 1,587,782,580-0.50 $7,970,669 Credit cards 480,576,207-2.31 $10,804,555 Interest rebates $0 Total CU member benefits arising from lower interest rates on loan products: $92,337,913 Savings Regular shares 4,243,819,248 0.01 $551,697 Share draft checking 1,878,874,461 0.02 $356,986 Money market accounts 2,552,330,038 0.06 $1,454,828 Certificate accounts 4,128,249,250 0.24 $10,031,646 Retirement (IRA) accounts 778,367,613 0.15 $1,167,551 Bonus dividends in period $0 Total CU member benefit arising from higher interest rates on savings products: $13,562,708 Fee Income Estimated Financial Benefits for Iowa Credit Unions June 2018 Total CU member benefit arising from fewer / lower fees: $11,750,669 Total CU member benefit arising from interest rates on loans, savings products and lower fees: $117,651,290 Total CU member benefit / member: $103 Total CU member benefit / member household: $216 Source: Datatrac, NCUA, and CUNA (1) Average balance as of June 2018 and June 2017, according to the NCUA call report.; (2) Source for rates and fees: Datatrac;
Iowa Credit Union Performance Profile Demographic Information Jun 18 Jun 17 Number of branches 282 279 Total assets ($ mil) 18,403 16,545 Total loans ($ mil) 15,029 13,008 Total surplus funds ($ mil) 2,697 2,754 Total savings ($ mil) 15,059 13,711 Total members (thousands) 1,163 1,130 Growth Rates (Trailing 12 months) * Total assets 11.6 % 11.7 % Total loans 15.9 % 15.7 % Total surplus funds -1.5 % -2.6 % Total savings 10.2 % 10.7 % Total members 3.5 % 4.7 % Earnings - Basis Pts. * Yield on total assets 389 367 Dividend / interest cost of assets 92 76 Fee & other income 129 130 Operating expense 282 284 Loss Provisions 33 30 Net Income (ROA) after stabilization exp 110 107 Capital Adequacy Net worth / assets 10.3 10.3 Asset Quality * Delinquencies / loans 0.7 0.7 Net chargeoffs / average loans 0.4 0.3 Total borrower-bankruptcies 11 10 Bankruptcies per 1000 members 0.8 0.8 Asset/Liability Management Loans / savings 99.8 94.9 Loans / assets 81.7 78.6 Long-term assets / assets 37.0 34.8 Core deposits/shares & borrowings 39.8 41.0 Productivity Members / potential members 3.4 3.6 Borrowers / members 74.0 69.8 Members / FTE 310 315 Average shares / members ($) 12,950 12,134 Average loan balances ($) 17,463 16,483 Salary & Benefits / FTE 68,735 66,938 * 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.