Mid-Year 2017 South Dakota South Dakota First Quarter 2017 Prepared by: CUNA Economics and Statistics
Source: Datatrac, NCUA, and CUNA. (1)Assumes 1.9 credit union members per household.
Loan Product Comparative Interest Rates (%) by Loan Type 16.76 11.36 10.97 9.84 8.39 9.10 2.94 4.49 4.59 3.20 3.56 3.56 3.61 3.68 4.19 4.28 4.16 4.69 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 - classic Credit card - platinum South Dakota Credit Unions South Dakota Banks
Savings Product Comparative Interest Rates (%) by Savings Account Type Retirement (IRA) accounts 0.27 0.37 1 Year certificate $10,000 balance 0.42 0.60 Money market accounts 0.12 0.15 Share draft checking, $5,000 balance 0.08 0.12 Regular savings, $1,000 balance 0.11 0.13 South Dakota Credit Unions South Dakota Banks
Comparative Fees by Type $1,361.00 $1,151.00 $22.00 $31.33 $24.56 $34.18 Share draft checking, NSF fee Credit cards, late fee Mortgages, closing costs South Dakota Credit Unions South Dakota Banks
South Dakota Credit Union and Banking Institution June 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) 2.94 4.49-1.55 48-month used car (A paper) 3.20 4.59-1.39 Unsecured loan (A paper) 9.84 8.39 1.45 5-year adjustable rate 1st mortgage, 0 pts 3.56 3.56-0.01 15-year fixed rate 1st mortgage, 0 pts 3.61 3.68-0.07 30-year fixed rate 1st mortgage, 0 pts 4.19 4.28-0.08 Home equity / 2nd mtg, 80% LTV 0 pts 4.16 4.69-0.54 Credit card - classic 11.36 16.76-5.40 Credit card - platinum 9.10 10.97-1.87 Savings Products Regular savings, $1,000 balance 0.13 0.11 0.02 Share draft checking, $5,000 balance 0.12 0.08 0.04 Money market accounts 0.15 0.12 0.03 1 Year certificate $10,000 balance 0.60 0.42 0.18 Retirement (IRA) accounts 0.37 0.27 0.11 Fee Income Share draft checking, NSF fee $22.00 $31.33 -$9.33 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 $7,872,146 $2,250,258 $2,619,459 $945,750 $29,419 $88,231 $116,035 -$735,970 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 $975,107 $163,748 $207,269 $205,745 $189,778 Regular shares Share draft checking Money market accounts Certificate accounts Retirement (IRA) accounts
Rate Total Avg. Balance Difference Financial Benefit at vs. South Dakota to Your Loans Credit Unions (1) Banks (%) (2) Members New car loans 145,647,762-1.55 $2,250,258 Used car loans 568,386,015-1.39 $7,872,146 Personal unsecured loans 50,896,988 1.45 -$735,970 5-year adjustable rate 1st mortgage 420,265,471-0.01 $29,419 15-year fixed rate 1st mortgage 133,682,971-0.07 $88,231 30-year fixed rate 1st mortgage 143,253,006-0.08 $116,035 Home equity / 2nd mortgage loans 176,445,953-0.54 $945,750 Credit cards 57,984,710-5.40 $2,619,459 Interest rebates $13,126 Total CU member benefits arising from lower interest rates on loan products: $13,198,454 Savings Regular shares 744,309,419 0.02 $163,748 Share draft checking 531,459,075 0.04 $207,269 Money market accounts 642,954,004 0.03 $205,745 Certificate accounts 547,813,130 0.18 $975,107 Retirement (IRA) accounts 180,741,251 0.11 $189,778 Bonus dividends in period $0 Total CU member benefit arising from higher interest rates on savings products: $1,741,648 Fee Income Estimated Financial Benefits for South Dakota Credit Unions June 2017 Total CU member benefit arising from fewer / lower fees: $9,285,596 Total CU member benefit arising from interest rates on loans, savings products and lower fees: $24,225,697 Total CU member benefit / member: $90 Total CU member benefit / member household: $172 Source: Datatrac, NCUA, and CUNA (1) Average balance as of June 2017 and June 2016, according to the NCUA call report.; (2) Source for rates and fees: Datatrac;
South Dakota Credit Union Performance Profile Demographic Information Jun 17 Jun 16 Number of branches 98 97 Total assets ($ mil) 3,181 2,977 Total loans ($ mil) 2,098 1,941 Total surplus funds ($ mil) 885 869 Total savings ($ mil) 2,797 2,615 Total members (thousands) 271 265 Growth Rates (Trailing 12 months) * Total assets 6.9 % 6.6 % Total loans 8.1 % 9.7 % Total surplus funds 1.8 % -1.5 % Total savings 6.9 % 6.5 % Total members 2.4 % 3.7 % Earnings - Basis Pts. * Yield on total assets 337 338 Dividend / interest cost of assets 40 38 Fee & other income 145 148 Operating expense 364 359 Loss Provisions 11 13 Net Income (ROA) after stabilization exp 67 76 Capital Adequacy Net worth / assets 10.7 10.6 Asset Quality * Delinquencies / loans 0.6 0.5 Net chargeoffs / average loans 0.2 0.2 Total borrower-bankruptcies 4 3 Bankruptcies per 1000 members 0.5 0.5 Asset/Liability Management Loans / savings 75.0 74.2 Loans / assets 66.0 65.2 Long-term assets / assets 29.3 29.9 Core deposits/shares & borrowings 47.9 46.1 Productivity Members / potential members 9.1 9.7 Borrowers / members 65.5 65.0 Members / FTE 269 269 Average shares / members ($) 10,307 9,870 Average loan balances ($) 11,805 11,276 Salary & Benefits / FTE 64,916 62,266 * 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.