Mid-Year 2017 New Mexico New Mexico 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 10.62 11.36 10.97 9.45 9.10 4.87 2.78 2.87 5.48 3.38 3.75 3.45 3.62 4.40 4.23 4.73 5.25 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 New Mexico Credit Unions New Mexico Banks
Savings Product Comparative Interest Rates (%) by Savings Account Type Retirement (IRA) accounts 0.18 0.38 1 Year certificate $10,000 balance 0.30 0.59 Money market accounts 0.07 0.18 Share draft checking, $5,000 balance 0.05 0.10 Regular savings, $1,000 balance 0.08 0.13 New Mexico Credit Unions New Mexico Banks
Comparative Fees by Type $1,361.00 $1,151.00 $26.63 $31.66 $24.56 $34.18 Share draft checking, NSF fee Credit cards, late fee Mortgages, closing costs New Mexico Credit Unions New Mexico Banks
New Mexico 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) 2.78 4.87-2.09 48-month used car (A paper) 2.87 5.48-2.61 Unsecured loan (A paper) 9.45 10.62-1.17 5-year adjustable rate 1st mortgage, 0 pts 3.38 3.45-0.07 15-year fixed rate 1st mortgage, 0 pts 3.75 3.62 0.13 30-year fixed rate 1st mortgage, 0 pts 4.40 4.23 0.17 Home equity / 2nd mtg, 80% LTV 0 pts 4.73 5.25-0.53 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 0.08 0.05 Share draft checking, $5,000 balance 0.10 0.05 0.05 Money market accounts 0.18 0.07 0.12 1 Year certificate $10,000 balance 0.59 0.30 0.29 Retirement (IRA) accounts 0.38 0.18 0.20 Fee Income Share draft checking, NSF fee $26.63 $31.66 -$5.03 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 $43,612,465 $38,019,431 $13,733,811 $2,869,422 $1,063,096 $1,948,451 -$519,892 -$536,289 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 $5,058,479 $1,688,629 $1,826,264 $1,164,832 $792,133 Regular shares Share draft checking Money market accounts Certificate accounts Retirement (IRA) accounts
Rate Total Avg. Balance Difference Financial Benefit at vs. New Mexico to Your Loans Credit Unions (1) Banks (%) (2) Members New car loans 1,819,111,542-2.09 $38,019,431 Used car loans 1,669,057,202-2.61 $43,612,465 Personal unsecured loans 245,459,525-1.17 $2,869,422 5-year adjustable rate 1st mortgage 1,497,318,784-0.07 $1,063,096 15-year fixed rate 1st mortgage 387,978,920 0.13 -$519,892 30-year fixed rate 1st mortgage 317,330,893 0.17 -$536,289 Home equity / 2nd mortgage loans 368,327,253-0.53 $1,948,451 Credit cards 304,013,525-5.40 $13,733,811 Interest rebates $0 Total CU member benefits arising from lower interest rates on loan products: $100,190,495 Savings Regular shares 3,311,037,926 0.05 $1,688,629 Share draft checking 1,584,266,533 0.05 $792,133 Money market accounts 1,588,055,239 0.12 $1,826,264 Certificate accounts 1,750,338,671 0.29 $5,058,479 Retirement (IRA) accounts 576,649,558 0.20 $1,164,832 Bonus dividends in period $0 Total CU member benefit arising from higher interest rates on savings products: $10,530,337 Fee Income Estimated Financial Benefits for New Mexico Credit Unions June 2017 Total CU member benefit arising from fewer / lower fees: $14,511,870 Total CU member benefit arising from interest rates on loans, savings products and lower fees: $125,232,703 Total CU member benefit / member: $151 Total CU member benefit / member household: $286 Source: Datatrac, NCUA, and CUNA (1) Average balance as of June 2017 and June 2016, according to the NCUA call report.; (2) Source for rates and fees: Datatrac;
New Mexico Credit Union Performance Profile Demographic Information Jun 17 Jun 16 Number of branches 140 142 Total assets ($ mil) 10,502 9,795 Total loans ($ mil) 7,128 6,578 Total surplus funds ($ mil) 2,932 2,776 Total savings ($ mil) 9,234 8,565 Total members (thousands) 845 824 Growth Rates (Trailing 12 months) * Total assets 7.6 % 6.7 % Total loans 8.9 % 9.6 % Total surplus funds 5.8 % -0.2 % Total savings 8.3 % 6.1 % Total members 3.4 % 3.5 % Earnings - Basis Pts. * Yield on total assets 334 335 Dividend / interest cost of assets 45 48 Fee & other income 126 123 Operating expense 294 300 Loss Provisions 39 34 Net Income (ROA) after stabilization exp 81 76 Capital Adequacy Net worth / assets 11.0 11.1 Asset Quality * Delinquencies / loans 0.6 0.7 Net chargeoffs / average loans 0.5 0.5 Total borrower-bankruptcies 13 13 Bankruptcies per 1000 members 0.7 0.7 Asset/Liability Management Loans / savings 77.2 76.8 Loans / assets 67.9 67.1 Long-term assets / assets 27.2 26.6 Core deposits/shares & borrowings 55.8 54.2 Productivity Members / potential members 16.5 15.7 Borrowers / members 57.5 56.5 Members / FTE 339 334 Average shares / members ($) 10,922 10,396 Average loan balances ($) 14,672 14,119 Salary & Benefits / FTE 65,717 63,039 * 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.