Mid-Year 2017 North Dakota North 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 7.56 8.21 9.10 4.45 4.58 3.31 3.31 3.34 3.30 3.58 3.62 4.26 4.27 4.21 5.04 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 North Dakota Credit Unions North Dakota Banks
Savings Product Comparative Interest Rates (%) by Savings Account Type Retirement (IRA) accounts 0.23 0.31 1 Year certificate $10,000 balance 0.37 0.52 Money market accounts 0.10 0.10 Share draft checking, $5,000 balance 0.07 0.07 Regular savings, $1,000 balance 0.08 0.08 North Dakota Credit Unions North Dakota Banks
Comparative Fees by Type $1,361.00 $1,151.00 $28.33 $28.60 $24.56 $34.18 Share draft checking, NSF fee Credit cards, late fee Mortgages, closing costs North Dakota Credit Unions North Dakota Banks
North 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) 3.31 4.45-1.15 48-month used car (A paper) 3.31 4.58-1.27 Unsecured loan (A paper) 7.56 8.21-0.65 5-year adjustable rate 1st mortgage, 0 pts 3.34 3.30 0.05 15-year fixed rate 1st mortgage, 0 pts 3.58 3.62-0.04 30-year fixed rate 1st mortgage, 0 pts 4.26 4.27-0.01 Home equity / 2nd mtg, 80% LTV 0 pts 4.21 5.04-0.83 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 0.08 0.08 0.00 Share draft checking, $5,000 balance 0.07 0.07 0.00 Money market accounts 0.10 0.10 0.00 1 Year certificate $10,000 balance 0.52 0.37 0.15 Retirement (IRA) accounts 0.31 0.23 0.07 Fee Income Share draft checking, NSF fee $28.33 $28.60 -$0.27 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 $4,575,514 $1,897,788 $1,494,640 $1,055,264 $218,049 $47,501 $5,828 -$396,265 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 $860,455 $95,026 $20,710 -$8,588 -$5,673 Regular shares Share draft checking Money market accounts Certificate accounts Retirement (IRA) accounts
Rate Total Avg. Balance Difference Financial Benefit at vs. North Dakota to Your Loans Credit Unions (1) Banks (%) (2) Members New car loans 92,002,131-1.15 $1,055,264 Used car loans 360,560,620-1.27 $4,575,514 Personal unsecured loans 33,701,476-0.65 $218,049 5-year adjustable rate 1st mortgage 843,116,149 0.05 -$396,265 15-year fixed rate 1st mortgage 113,097,463-0.04 $47,501 30-year fixed rate 1st mortgage 52,985,871-0.01 $5,828 Home equity / 2nd mortgage loans 179,428,605-0.83 $1,494,640 Credit cards 42,009,694-5.40 $1,897,788 Interest rebates $219,478 Total CU member benefits arising from lower interest rates on loan products: $9,117,798 Savings Regular shares 858,755,141 0.00 -$8,588 Share draft checking 690,342,182 0.00 $20,710 Money market accounts 567,303,016 0.00 -$5,673 Certificate accounts 577,486,794 0.15 $860,455 Retirement (IRA) accounts 128,413,937 0.07 $95,026 Bonus dividends in period $0 Total CU member benefit arising from higher interest rates on savings products: $961,931 Fee Income Estimated Financial Benefits for North Dakota Credit Unions June 2017 Total CU member benefit arising from fewer / lower fees: $1,678,908 Total CU member benefit arising from interest rates on loans, savings products and lower fees: $11,758,637 Total CU member benefit / member: $58 Total CU member benefit / member household: $111 Source: Datatrac, NCUA, and CUNA (1) Average balance as of June 2017 and June 2016, according to the NCUA call report.; (2) Source for rates and fees: Datatrac;
North Dakota Credit Union Performance Profile Demographic Information Jun 17 Jun 16 Number of branches 116 118 Total assets ($ mil) 3,617 3,467 Total loans ($ mil) 2,561 2,556 Total surplus funds ($ mil) 897 757 Total savings ($ mil) 3,111 2,975 Total members (thousands) 213 214 Growth Rates (Trailing 12 months) * Total assets 4.3 % 2.3 % Total loans 0.2 % 4.4 % Total surplus funds 18.4 % -4.9 % Total savings 4.6 % 1.0 % Total members -0.7 % -0.8 % Earnings - Basis Pts. * Yield on total assets 359 362 Dividend / interest cost of assets 38 35 Fee & other income 95 99 Operating expense 321 315 Loss Provisions 21 21 Net Income (ROA) after stabilization exp 74 90 Capital Adequacy Net worth / assets 12.5 12.2 Asset Quality * Delinquencies / loans 1.7 1.4 Net chargeoffs / average loans 0.2 0.2 Total borrower-bankruptcies 2 2 Bankruptcies per 1000 members 0.4 0.3 Asset/Liability Management Loans / savings 82.3 85.9 Loans / assets 70.8 73.7 Long-term assets / assets 49.5 50.3 Core deposits/shares & borrowings 53.8 49.8 Productivity Members / potential members 12.1 12.1 Borrowers / members 55.7 54.5 Members / FTE 229 237 Average shares / members ($) 14,621 13,891 Average loan balances ($) 21,614 21,921 Salary & Benefits / FTE 71,286 69,101 * 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.