Year-End Mid 2017 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 13.52 11.50 10.44 10.26 9.96 8.47 4.63 2.81 2.97 5.16 3.63 3.85 3.79 3.76 4.24 4.21 4.25 4.83 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 0.29 0.46 1 Year certificate $10,000 balance 0.46 0.72 Money market accounts 0.13 0.19 Share draft checking, $5,000 balance 0.08 0.13 Regular savings, $1,000 balance 0.11 0.15 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 December 2017 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) 2.81 4.63-1.82 48-month used car (A paper) 2.97 5.16-2.19 Unsecured loan (A paper) 8.47 10.44-1.96 5-year adjustable rate 1st mortgage, 0 pts 3.63 3.85-0.22 15-year fixed rate 1st mortgage, 0 pts 3.79 3.76 0.03 30-year fixed rate 1st mortgage, 0 pts 4.24 4.21 0.02 Home equity / 2nd mtg, 80% LTV 0 pts 4.25 4.83-0.58 Credit card - rewards 10.26 13.52-3.26 Credit card - platinum 9.96 11.50-1.54 Savings Products Regular savings, $1,000 balance 0.15 0.11 0.05 Share draft checking, $5,000 balance 0.13 0.08 0.04 Money market accounts 0.19 0.13 0.07 1 Year certificate $10,000 balance 0.72 0.46 0.26 Retirement (IRA) accounts 0.46 0.29 0.16 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 $121,802,045 $61,181,955 $60,722,473 $33,488,223 $25,026,631 $8,101,042 -$1,048,024 -$694,225 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 $18,799,144 $6,275,177 $5,308,785 $5,839,571 $2,187,347 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 3,361,645,907-1.82 $61,181,955 Used car loans 5,556,662,643-2.19 $121,802,045 Personal unsecured loans 1,705,971,616-1.96 $33,488,223 5-year adjustable rate 1st mortgage 3,716,074,290-0.22 $8,101,042 15-year fixed rate 1st mortgage 3,742,943,221 0.03 -$1,048,024 30-year fixed rate 1st mortgage 2,892,603,836 0.02 -$694,225 Home equity / 2nd mortgage loans 4,292,732,665-0.58 $25,026,631 Credit cards 2,148,137,351-3.26 $60,722,473 Interest rebates $94,196 Total CU member benefits arising from lower interest rates on loan products: $308,674,316 Savings Regular shares 13,944,838,333 0.05 $6,275,177 Share draft checking 5,334,993,040 0.04 $2,187,347 Money market accounts 7,923,560,165 0.07 $5,308,785 Certificate accounts 7,202,737,216 0.26 $18,799,144 Retirement (IRA) accounts 3,560,714,262 0.16 $5,839,571 Bonus dividends in period $0 Total CU member benefit arising from higher interest rates on savings products: $38,410,025 Fee Income Estimated Financial Benefits for Pennsylvania Credit Unions December 2017 Total CU member benefit arising from fewer / lower fees: $37,784,437 Total CU member benefit arising from interest rates on loans, savings products and lower fees: $384,868,779 Total CU member benefit / member: $97 Total CU member benefit / member household: $203 Source: Datatrac, NCUA, and CUNA (1) Average balance as of December 2017 and December 2016, according to the NCUA call report.; (2) Source for rates and fees: Datatrac;
Pennsylvania Credit Union Performance Profile Demographic Information Dec 17 Dec 16 Number of branches 947 944 Total assets ($ mil) 46,126 44,015 Total loans ($ mil) 30,001 27,382 Total surplus funds ($ mil) 14,325 14,996 Total savings ($ mil) 39,534 37,942 Total members (thousands) 4,055 3,951 Growth Rates (Trailing 12 months) * Total assets 5.9 % 6.9 % Total loans 10.7 % 9.1 % Total surplus funds -3.3 % 2.7 % Total savings 5.4 % 6.8 % Total members 4.0 % 2.6 % Earnings - Basis Pts. * Yield on total assets 341 329 Dividend / interest cost of assets 50 46 Fee & other income 120 118 Operating expense 301 302 Loss Provisions 34 31 Net Income (ROA) after stabilization exp 76 68 Capital Adequacy Net worth / assets 11.6 11.5 Asset Quality * Delinquencies / loans 0.7 0.8 Net chargeoffs / average loans 0.5 0.5 Total borrower-bankruptcies 11 10 Bankruptcies per 1000 members 1.0 1.0 Asset/Liability Management Loans / savings 75.9 72.2 Loans / assets 65.0 62.2 Long-term assets / assets 31.5 32.7 Core deposits/shares & borrowings 49.4 49.0 Productivity Members / potential members 5.4 5.6 Borrowers / members 55.6 56.3 Members / FTE 408 410 Average shares / members ($) 9,749 9,602 Average loan balances ($) 13,312 12,302 Salary & Benefits / FTE 67,737 66,068 * 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.