Third-Quarter Mid Year 2017 2017 Utah Utah 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 13.48 11.92 9.69 10.60 8.69 8.63 5.35 4.30 2.89 2.90 4.53 3.32 3.51 3.44 3.55 4.10 4.15 4.32 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 Utah Credit Unions Utah Banks
Savings Product Comparative Interest Rates (%) by Savings Account Type Retirement (IRA) accounts 0.39 0.61 1 Year certificate $10,000 balance 0.59 1.02 Money market accounts 0.20 0.19 Share draft checking, $5,000 balance 0.09 0.07 Regular savings, $1,000 balance 0.14 0.26 Utah Credit Unions Utah Banks
Comparative Fees by Type $1,361.00 $1,151.00 $24.94 $29.31 $24.56 $34.18 Share draft checking, NSF fee Credit cards, late fee Mortgages, closing costs Utah Credit Unions Utah Banks
Utah 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) 2.89 4.30-1.42 48-month used car (A paper) 2.90 4.53-1.62 Unsecured loan (A paper) 8.69 9.69-1.00 5-year adjustable rate 1st mortgage, 0 pts 3.32 3.51-0.20 15-year fixed rate 1st mortgage, 0 pts 3.44 3.55-0.11 30-year fixed rate 1st mortgage, 0 pts 4.10 4.15-0.04 Home equity / 2nd mtg, 80% LTV 0 pts 4.32 5.35-1.03 Credit card - rewards 10.60 13.48-2.88 Credit card - platinum 8.63 11.92-3.28 Savings Products Regular savings, $1,000 balance 0.14 0.26-0.11 Share draft checking, $5,000 balance 0.09 0.07 0.02 Money market accounts 0.20 0.19 0.00 1 Year certificate $10,000 balance 1.02 0.59 0.43 Retirement (IRA) accounts 0.61 0.39 0.22 Fee Income Share draft checking, NSF fee $24.94 $29.31 -$4.37 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 $101,698,992 $32,321,090 $31,543,168 $14,800,939 $4,711,331 $3,885,439 $2,358,828 $349,831 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 $15,950,361 $2,436,110 $634,494 $161,055 -$6,360,038 Regular shares Share draft checking Money market accounts Certificate accounts Retirement (IRA) accounts
Rate Total Avg. Balance Difference Financial Benefit at vs. Utah to Your Loans Credit Unions (1) Banks (%) (2) Members New car loans 2,284,175,958-1.42 $32,321,090 Used car loans 6,262,253,187-1.62 $101,698,992 Personal unsecured loans 472,550,759-1.00 $4,711,331 5-year adjustable rate 1st mortgage 1,992,533,040-0.20 $3,885,439 15-year fixed rate 1st mortgage 2,144,389,016-0.11 $2,358,828 30-year fixed rate 1st mortgage 777,403,266-0.04 $349,831 Home equity / 2nd mortgage loans 1,441,181,963-1.03 $14,800,939 Credit cards 1,058,762,049-2.88 $31,543,168 Interest rebates $10,891 Total CU member benefits arising from lower interest rates on loan products: $191,680,509 Savings Regular shares 5,678,605,379-0.11 -$6,360,038 Share draft checking 3,339,443,730 0.02 $634,494 Money market accounts 5,368,489,445 0.00 $161,055 Certificate accounts 3,700,779,868 0.43 $15,950,361 Retirement (IRA) accounts 1,122,631,114 0.22 $2,436,110 Bonus dividends in period $0 Total CU member benefit arising from higher interest rates on savings products: $12,821,982 Fee Income Estimated Financial Benefits for Utah Credit Unions September 2017 Total CU member benefit arising from fewer / lower fees: $44,789,378 Total CU member benefit arising from interest rates on loans, savings products and lower fees: $249,291,869 Total CU member benefit / member: $105 Total CU member benefit / member household: $199 Source: Datatrac, NCUA, and CUNA (1) Average balance as of September 2017 and September 2016, according to the NCUA call report.; (2) Source for rates and fees: Datatrac;
Utah Credit Union Performance Profile Demographic Information Sep 17 Sep 16 Number of branches 458 445 Total assets ($ mil) 25,235 22,363 Total loans ($ mil) 19,367 16,626 Total surplus funds ($ mil) 4,704 4,751 Total savings ($ mil) 21,752 19,286 Total members (thousands) 2,491 2,276 Growth Rates (Trailing 12 months) * Total assets 13.2 % 14.7 % Total loans 16.7 % 14.9 % Total surplus funds 0.0 % 16.2 % Total savings 13.2 % 13.6 % Total members 9.9 % 8.0 % Earnings - Basis Pts. * Yield on total assets 359 347 Dividend / interest cost of assets 49 43 Fee & other income 207 213 Operating expense 355 357 Loss Provisions 44 42 Net Income (ROA) after stabilization exp 119 118 Capital Adequacy Net worth / assets 10.6 10.8 Asset Quality * Delinquencies / loans 0.6 0.6 Net chargeoffs / average loans 0.5 0.5 Total borrower-bankruptcies 54 52 Bankruptcies per 1000 members 1.4 1.6 Asset/Liability Management Loans / savings 89.0 86.2 Loans / assets 76.7 74.3 Long-term assets / assets 25.5 26.0 Core deposits/shares & borrowings 43.7 44.4 Productivity Members / potential members 5.4 6.1 Borrowers / members 67.1 66.1 Members / FTE 348 345 Average shares / members ($) 8,731 8,475 Average loan balances ($) 11,581 11,056 Salary & Benefits / FTE 62,000 59,403 * 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.