Third-Quarter Mid Year 2017 2017 New York New York 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 13.78 11.80 8.93 10.02 10.42 9.22 2.85 4.80 3.12 5.28 3.41 3.50 3.57 3.71 4.16 4.28 4.32 4.92 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 New York Credit Unions New York Banks
Savings Product Comparative Interest Rates (%) by Savings Account Type Retirement (IRA) accounts 0.36 0.44 1 Year certificate $10,000 balance 0.58 0.67 Money market accounts 0.14 0.20 Share draft checking, $5,000 balance 0.10 0.13 Regular savings, $1,000 balance 0.13 0.16 New York Credit Unions New York Banks
Comparative Fees by Type $1,361.00 $1,151.00 $27.83 $33.45 $24.56 $34.18 Share draft checking, NSF fee Credit cards, late fee Mortgages, closing costs New York Credit Unions New York Banks
New York Credit Union and Banking Institution September 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) 2.85 4.80-1.95 48-month used car (A paper) 3.12 5.28-2.16 Unsecured loan (A paper) 8.93 10.02-1.09 5-year adjustable rate 1st mortgage, 0 pts 3.41 3.50-0.09 15-year fixed rate 1st mortgage, 0 pts 3.57 3.71-0.14 30-year fixed rate 1st mortgage, 0 pts 4.16 4.28-0.12 Home equity / 2nd mtg, 80% LTV 0 pts 4.32 4.92-0.60 Credit card - rewards 10.42 13.78-3.35 Credit card - platinum 9.22 11.80-2.57 Savings Products Regular savings, $1,000 balance 0.16 0.13 0.03 Share draft checking, $5,000 balance 0.13 0.10 0.02 Money market accounts 0.20 0.14 0.06 1 Year certificate $10,000 balance 0.67 0.58 0.10 Retirement (IRA) accounts 0.44 0.36 0.08 Fee Income Share draft checking, NSF fee $27.83 $33.45 -$5.62 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 $107,673,264 $87,180,677 $59,030,560 $49,095,299 $32,616,567 $9,564,335 $9,088,149 $5,979,366 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 $12,819,756 $8,633,513 $7,022,007 $3,267,951 $1,864,277 Regular shares Share draft checking Money market accounts Certificate accounts Retirement (IRA) accounts
Rate Total Avg. Balance Difference Financial Benefit at vs. New York to Your Loans Credit Unions (1) Banks (%) (2) Members New car loans 4,477,692,720-1.95 $87,180,677 Used car loans 4,994,121,702-2.16 $107,673,264 Personal unsecured loans 3,006,135,224-1.09 $32,616,567 5-year adjustable rate 1st mortgage 10,174,824,439-0.09 $9,564,335 15-year fixed rate 1st mortgage 6,400,105,107-0.14 $9,088,149 30-year fixed rate 1st mortgage 5,024,677,077-0.12 $5,979,366 Home equity / 2nd mortgage loans 8,168,934,896-0.60 $49,095,299 Credit cards 1,869,238,773-3.35 $59,030,560 Interest rebates $60,663 Total CU member benefits arising from lower interest rates on loan products: $360,288,881 Savings Regular shares 25,078,596,046 0.03 $7,022,007 Share draft checking 8,105,552,854 0.02 $1,864,277 Money market accounts 13,925,021,272 0.06 $8,633,513 Certificate accounts 13,353,912,029 0.10 $12,819,756 Retirement (IRA) accounts 4,136,646,656 0.08 $3,267,951 Bonus dividends in period $0 Total CU member benefit arising from higher interest rates on savings products: $33,607,504 Fee Income Estimated Financial Benefits for New York Credit Unions September 2017 Total CU member benefit arising from fewer / lower fees: $88,929,698 Total CU member benefit arising from interest rates on loans, savings products and lower fees: $482,826,083 Total CU member benefit / member: $89 Total CU member benefit / member household: $169 Source: Datatrac, NCUA, and CUNA (1) Average balance as of September 2017 and September 2016, according to the NCUA call report.; (2) Source for rates and fees: Datatrac;
New York Credit Union Performance Profile Demographic Information Sep 17 Sep 16 Number of branches 1,051 1,042 Total assets ($ mil) 80,173 76,101 Total loans ($ mil) 51,717 47,526 Total surplus funds ($ mil) 26,119 26,231 Total savings ($ mil) 67,760 64,697 Total members (thousands) 5,550 5,377 Growth Rates (Trailing 12 months) * Total assets 5.7 % 7.0 % Total loans 9.2 % 8.9 % Total surplus funds -0.1 % 4.3 % Total savings 5.1 % 7.6 % Total members 4.0 % 4.0 % Earnings - Basis Pts. * Yield on total assets 331 320 Dividend / interest cost of assets 54 52 Fee & other income 105 106 Operating expense 277 277 Loss Provisions 83 53 Net Income (ROA) after stabilization exp 22 45 Capital Adequacy Net worth / assets 10.3 10.6 Asset Quality * Delinquencies / loans 2.6 2.1 Net chargeoffs / average loans 0.6 0.9 Total borrower-bankruptcies 14 13 Bankruptcies per 1000 members 0.9 0.9 Asset/Liability Management Loans / savings 76.3 73.5 Loans / assets 64.5 62.5 Long-term assets / assets 36.7 39.9 Core deposits/shares & borrowings 49.2 48.2 Productivity Members / potential members 1.4 1.4 Borrowers / members 52.2 51.4 Members / FTE 409 405 Average shares / members ($) 12,209 12,031 Average loan balances ($) 17,836 17,210 Salary & Benefits / FTE 81,473 78,526 * 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.