Year-End Mid 2017 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 13.47 12.47 11.00 9.57 9.70 9.87 5.88 4.92 3.47 3.10 2.96 3.75 3.97 3.67 3.68 3.37 4.03 4.12 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 0.21 0.54 1 Year certificate $10,000 balance 0.34 0.93 Money market accounts 0.09 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 December 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) 3.10 3.47-0.37 48-month used car (A paper) 2.96 3.75-0.79 Unsecured loan (A paper) 11.00 9.57 1.43 5-year adjustable rate 1st mortgage, 0 pts 3.97 3.67 0.30 15-year fixed rate 1st mortgage, 0 pts 3.37 3.68-0.32 30-year fixed rate 1st mortgage, 0 pts 4.03 4.12-0.09 Home equity / 2nd mtg, 80% LTV 0 pts 4.92 5.88-0.96 Credit card - rewards 9.70 13.47-3.77 Credit card - platinum 9.87 12.47-2.60 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 0.09 0.06 1 Year certificate $10,000 balance 0.93 0.34 0.59 Retirement (IRA) accounts 0.54 0.21 0.33 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 $21,983,934 $11,027,586 $8,026,029 $631,142 $335,643 $1,400,784 -$2,121,636 -$2,495,484 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 $9,182,333 $2,148,700 $1,519,082 $1,606,010 -$14,131 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 2,186,928,830-0.37 $8,026,029 Used car loans 2,800,501,097-0.79 $21,983,934 Personal unsecured loans 147,952,274 1.43 -$2,121,636 5-year adjustable rate 1st mortgage 831,827,971 0.30 -$2,495,484 15-year fixed rate 1st mortgage 199,728,384-0.32 $631,142 30-year fixed rate 1st mortgage 364,829,580-0.09 $335,643 Home equity / 2nd mortgage loans 146,219,587-0.96 $1,400,784 Credit cards 317,294,941-3.77 $11,027,586 Interest rebates $26,722 Total CU member benefits arising from lower interest rates on loan products: $38,814,719 Savings Regular shares 2,498,488,946 0.09 $2,148,700 Share draft checking 1,413,068,661 0.00 -$14,131 Money market accounts 2,665,056,834 0.06 $1,519,082 Certificate accounts 1,545,847,243 0.59 $9,182,333 Retirement (IRA) accounts 493,397,898 0.33 $1,606,010 Bonus dividends in period $0 Total CU member benefit arising from higher interest rates on savings products: $14,441,995 Fee Income Estimated Financial Benefits for Alaska Credit Unions December 2017 Total CU member benefit arising from fewer / lower fees: $9,697,108 Total CU member benefit arising from interest rates on loans, savings products and lower fees: $62,953,822 Total CU member benefit / member: $72 Total CU member benefit / member household: $150 Source: Datatrac, NCUA, and CUNA (1) Average balance as of December 2017 and December 2016, according to the NCUA call report.; (2) Source for rates and fees: Datatrac;
Alaska Credit Union Performance Profile Demographic Information Dec 17 Dec 16 Number of branches 148 153 Total assets ($ mil) 10,066 9,428 Total loans ($ mil) 8,126 7,440 Total surplus funds ($ mil) 1,395 1,445 Total savings ($ mil) 9,020 8,435 Total members (thousands) 899 859 Growth Rates (Trailing 12 months) * Total assets 6.8 % 6.6 % Total loans 9.2 % 7.3 % Total surplus funds -3.5 % 2.2 % Total savings 6.9 % 6.0 % Total members 4.7 % 6.0 % Earnings - Basis Pts. * Yield on total assets 365 374 Dividend / interest cost of assets 42 37 Fee & other income 213 227 Operating expense 420 428 Loss Provisions 74 65 Net Income (ROA) after stabilization exp 42 70 Capital Adequacy Net worth / assets 9.6 9.9 Asset Quality * Delinquencies / loans 1.1 1.2 Net chargeoffs / average loans 0.8 0.7 Total borrower-bankruptcies 183 189 Bankruptcies per 1000 members 2.4 2.6 Asset/Liability Management Loans / savings 90.1 88.2 Loans / assets 80.7 78.9 Long-term assets / assets 16.7 18.6 Core deposits/shares & borrowings 43.9 45.5 Productivity Members / potential members 5.9 6.6 Borrowers / members 65.9 69.4 Members / FTE 301 289 Average shares / members ($) 10,031 9,824 Average loan balances ($) 13,711 12,481 Salary & Benefits / FTE 82,104 81,484 * 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.