First Mid Quarter Year 2017 2018 Alaska Alaska 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 13.53 12.53 11.49 9.67 9.70 10.00 5.88 3.56 3.24 3.10 3.88 4.01 4.01 4.09 3.72 4.31 4.50 5.13 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 Alaska Credit Unions Alaska Banks
Savings Product Comparative Interest Rates (%) by Savings Account Type Retirement (IRA) accounts 0.30 0.53 1 Year certificate $10,000 balance 0.51 0.92 Money market accounts 0.08 0.14 Share draft checking, $5,000 balance 0.06 0.06 Regular savings, $1,000 balance 0.06 0.15 Alaska Credit Unions Alaska Banks
Comparative Fees by Type $1,361.00 $1,151.00 $24.50 $26.45 $24.56 $34.18 Share draft checking, NSF fee Credit cards, late fee Mortgages, closing costs Alaska Credit Unions Alaska Banks
Alaska Credit Union and Banking Institution March 2018 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) 3.24 3.56-0.32 48-month used car (A paper) 3.10 3.88-0.78 Unsecured loan (A paper) 11.49 9.67 1.83 5-year adjustable rate 1st mortgage, 0 pts 4.01 4.01 0.01 15-year fixed rate 1st mortgage, 0 pts 3.72 4.09-0.36 30-year fixed rate 1st mortgage, 0 pts 4.31 4.50-0.19 Home equity / 2nd mtg, 80% LTV 0 pts 5.13 5.88-0.75 Credit card - rewards 9.70 13.53-3.83 Credit card - platinum 10.00 12.53-2.54 Savings Products Regular savings, $1,000 balance 0.15 0.06 0.09 Share draft checking, $5,000 balance 0.06 0.06 0.00 Money market accounts 0.14 0.08 0.07 1 Year certificate $10,000 balance 0.92 0.51 0.40 Retirement (IRA) accounts 0.53 0.30 0.23 Fee Income Share draft checking, NSF fee $24.50 $26.45 -$1.95 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 $22,545,020 $10,665,958 $7,260,402 $708,634 $682,877 $1,107,333 -$59,998 -$2,620,515 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 $6,285,361 $2,210,457 $1,782,255 $1,152,890 $0 Regular shares Share draft checking Money market accounts Certificate accounts Retirement (IRA) accounts
Rate Total Avg. Balance Difference Financial Benefit at vs. Alaska to Your Loans Credit Unions (1) Banks (%) (2) Members New car loans 2,268,875,611-0.32 $7,260,402 Used car loans 2,890,387,172-0.78 $22,545,020 Personal unsecured loans 143,432,686 1.83 -$2,620,515 5-year adjustable rate 1st mortgage 857,112,575 0.01 -$59,998 15-year fixed rate 1st mortgage 195,755,120-0.36 $708,634 30-year fixed rate 1st mortgage 353,822,363-0.19 $682,877 Home equity / 2nd mortgage loans 147,644,375-0.75 $1,107,333 Credit cards 304,198,433-3.83 $10,665,958 Interest rebates $21,880 Total CU member benefits arising from lower interest rates on loan products: $40,311,590 Savings Regular shares 2,570,298,368 0.09 $2,210,457 Share draft checking 1,482,091,140 0.00 $0 Money market accounts 2,700,386,359 0.07 $1,782,255 Certificate accounts 1,563,522,614 0.40 $6,285,361 Retirement (IRA) accounts 492,688,238 0.23 $1,152,890 Bonus dividends in period $0 Total CU member benefit arising from higher interest rates on savings products: $11,430,963 Fee Income Estimated Financial Benefits for Alaska Credit Unions March 2018 Total CU member benefit arising from fewer / lower fees: $9,900,700 Total CU member benefit arising from interest rates on loans, savings products and lower fees: $61,643,253 Total CU member benefit / member: $69 Total CU member benefit / member household: $145 Source: Datatrac, NCUA, and CUNA (1) Average balance as of March 2018 and March 2017, according to the NCUA call report.; (2) Source for rates and fees: Datatrac;
Alaska Credit Union Performance Profile Demographic Information Mar 18 Mar 17 Number of branches 147 154 Total assets ($ mil) 10,285 9,605 Total loans ($ mil) 8,240 7,675 Total surplus funds ($ mil) 1,500 1,375 Total savings ($ mil) 9,240 8,616 Total members (thousands) 910 870 Growth Rates (Trailing 12 months) * Total assets 7.1 % 6.0 % Total loans 7.4 % 9.6 % Total surplus funds 9.1 % -5.3 % Total savings 7.2 % 6.1 % Total members 4.5 % 5.9 % Earnings - Basis Pts. * Yield on total assets 361 357 Dividend / interest cost of assets 45 38 Fee & other income 213 213 Operating expense 408 411 Loss Provisions 62 73 Net Income (ROA) after stabilization exp 60 48 Capital Adequacy Net worth / assets 9.6 9.8 Asset Quality * Delinquencies / loans 1.0 1.0 Net chargeoffs / average loans 0.8 0.7 Total borrower-bankruptcies 45 42 Bankruptcies per 1000 members 0.6 0.6 Asset/Liability Management Loans / savings 89.2 89.1 Loans / assets 80.1 79.9 Long-term assets / assets 16.7 18.6 Core deposits/shares & borrowings 44.7 45.9 Productivity Members / potential members 5.9 6.7 Borrowers / members 64.9 67.4 Members / FTE 304 294 Average shares / members ($) 10,154 9,899 Average loan balances ($) 13,959 13,077 Salary & Benefits / FTE 81,970 80,755 * 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.