Third Mid Quarter Year 2017 2018 Pennsylvania Pennsylvania 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 13.17 10.48 10.79 9.88 8.50 4.94 3.40 3.50 5.42 4.29 4.21 4.50 4.48 4.90 4.85 4.95 5.39 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 Pennsylvania Credit Unions Pennsylvania Banks
Savings Product Comparative Interest Rates (%) by Savings Account Type Retirement (IRA) accounts 0.44 0.78 1 Year certificate $10,000 balance 0.72 1.27 Money market accounts 0.16 0.29 Share draft checking, $5,000 balance 0.09 0.13 Regular savings, $1,000 balance 0.12 0.17 Pennsylvania Credit Unions Pennsylvania Banks
Comparative Fees by Type $1,361.00 $1,151.00 $30.43 $33.42 $24.56 $34.18 Share draft checking, NSF fee Credit cards, late fee Mortgages, closing costs Pennsylvania Credit Unions Pennsylvania Banks
Pennsylvania 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) 3.40 4.94-1.54 48-month used car (A paper) 3.50 5.42-1.92 Unsecured loan (A paper) 8.50 10.48-1.98 5-year adjustable rate 1st mortgage, 0 pts 4.29 4.21 0.08 15-year fixed rate 1st mortgage, 0 pts 4.50 4.48 0.02 30-year fixed rate 1st mortgage, 0 pts 4.90 4.85 0.05 Home equity / 2nd mtg, 80% LTV 0 pts 4.95 5.39-0.44 Credit card - rewards 10.79 14.82-4.03 Credit card - platinum 9.88 13.17-3.29 Savings Products Regular savings, $1,000 balance 0.17 0.12 0.05 Share draft checking, $5,000 balance 0.13 0.09 0.05 Money market accounts 0.29 0.16 0.13 1 Year certificate $10,000 balance 1.27 0.72 0.55 Retirement (IRA) accounts 0.78 0.44 0.34 Fee Income Share draft checking, NSF fee $30.43 $33.42 -$2.99 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 $119,608,217 $83,499,368 $59,275,879 $34,926,445 $19,228,001 -$3,421,254 -$565,876 -$1,506,310 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 $41,763,098 $10,701,811 $12,103,462 $7,094,537 $2,646,597 Regular shares Share draft checking Money market accounts Certificate accounts Retirement (IRA) accounts
Rate Total Avg. Balance Difference Financial Benefit at vs. Pennsylvania to Your Loans Credit Unions (1) Banks (%) (2) Members New car loans 3,854,088,374-1.54 $59,275,879 Used car loans 6,232,840,929-1.92 $119,608,217 Personal unsecured loans 1,766,638,591-1.98 $34,926,445 5-year adjustable rate 1st mortgage 4,223,769,916 0.08 -$3,421,254 15-year fixed rate 1st mortgage 3,772,504,850 0.02 -$565,876 30-year fixed rate 1st mortgage 3,138,144,844 0.05 -$1,506,310 Home equity / 2nd mortgage loans 4,360,090,872-0.44 $19,228,001 Credit cards 2,173,330,775-4.03 $83,499,368 Interest rebates $82,517 Total CU member benefits arising from lower interest rates on loan products: $311,126,988 Savings Regular shares 14,478,647,187 0.05 $7,094,537 Share draft checking 5,753,472,046 0.05 $2,646,597 Money market accounts 8,046,474,255 0.13 $10,701,811 Certificate accounts 7,607,121,694 0.55 $41,763,098 Retirement (IRA) accounts 3,549,402,245 0.34 $12,103,462 Bonus dividends in period $0 Total CU member benefit arising from higher interest rates on savings products: $74,309,505 Fee Income Estimated Financial Benefits for Pennsylvania Credit Unions September 2018 Total CU member benefit arising from fewer / lower fees: $39,564,056 Total CU member benefit arising from interest rates on loans, savings products and lower fees: $425,000,549 Total CU member benefit / member: $104 Total CU member benefit / member household: $218 Source: Datatrac, NCUA, and CUNA (1) Average balance as of September 2018 and September 2017, according to the NCUA call report.; (2) Source for rates and fees: Datatrac;
Pennsylvania Credit Union Performance Profile Demographic Information Sep 18 Sep 17 Number of branches 952 947 Total assets ($ mil) 48,166 45,761 Total loans ($ mil) 32,175 29,378 Total surplus funds ($ mil) 14,124 14,635 Total savings ($ mil) 40,902 39,249 Total members (thousands) 4,177 4,034 Growth Rates (Trailing 12 months) * Total assets 5.7 % 6.5 % Total loans 9.8 % 10.6 % Total surplus funds -2.9 % -1.3 % Total savings 4.7 % 6.2 % Total members 4.2 % 3.8 % Earnings - Basis Pts. * Yield on total assets 360 337 Dividend / interest cost of assets 60 49 Fee & other income 126 117 Operating expense 303 298 Loss Provisions 31 32 Net Income (ROA) after stabilization exp 92 75 Capital Adequacy Net worth / assets 11.8 11.5 Asset Quality * Delinquencies / loans 0.6 0.7 Net chargeoffs / average loans 0.5 0.5 Total borrower-bankruptcies 9 9 Bankruptcies per 1000 members 0.8 0.9 Asset/Liability Management Loans / savings 78.7 74.8 Loans / assets 66.8 64.2 Long-term assets / assets 31.2 31.7 Core deposits/shares & borrowings 49.8 49.3 Productivity Members / potential members 5.6 5.5 Borrowers / members 56.5 54.6 Members / FTE 408 408 Average shares / members ($) 9,793 9,730 Average loan balances ($) 13,626 13,330 Salary & Benefits / FTE 70,188 67,434 * 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.