First Mid Quarter Year 2017 2018 Indiana Indiana 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 13.48 10.60 10.95 11.39 9.57 9.61 3.92 4.05 3.09 3.14 4.04 4.03 4.17 4.10 4.64 4.54 4.60 4.89 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 Indiana Credit Unions Indiana Banks
Savings Product Comparative Interest Rates (%) by Savings Account Type Retirement (IRA) accounts 0.30 0.43 1 Year certificate $10,000 balance 0.51 0.68 Money market accounts 0.10 0.19 Share draft checking, $5,000 balance 0.08 0.14 Regular savings, $1,000 balance 0.07 0.13 Indiana Credit Unions Indiana Banks
Comparative Fees by Type $1,361.00 $1,151.00 $30.94 $32.84 $24.56 $34.18 Share draft checking, NSF fee Credit cards, late fee Mortgages, closing costs Indiana Credit Unions Indiana Banks
Indiana 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) 3.09 3.92-0.84 48-month used car (A paper) 3.14 4.05-0.91 Unsecured loan (A paper) 9.57 10.60-1.03 5-year adjustable rate 1st mortgage, 0 pts 4.04 4.03 0.01 15-year fixed rate 1st mortgage, 0 pts 4.17 4.10 0.07 30-year fixed rate 1st mortgage, 0 pts 4.64 4.54 0.10 Home equity / 2nd mtg, 80% LTV 0 pts 4.60 4.89-0.28 Credit card - rewards 10.95 13.48-2.53 Credit card - platinum 9.61 11.39-1.78 Savings Products Regular savings, $1,000 balance 0.13 0.07 0.06 Share draft checking, $5,000 balance 0.14 0.08 0.06 Money market accounts 0.19 0.10 0.09 1 Year certificate $10,000 balance 0.68 0.51 0.18 Retirement (IRA) accounts 0.43 0.30 0.13 Fee Income Share draft checking, NSF fee $30.94 $32.84 -$1.90 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 $48,990,999 $17,209,459 $12,976,673 $4,673,685 $3,710,904 -$199,730 -$2,063,975 -$2,207,187 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 $6,021,729 $4,492,539 $4,267,711 $2,521,809 $1,850,902 Regular shares Share draft checking Money market accounts Certificate accounts Retirement (IRA) accounts
Rate Total Avg. Balance Difference Financial Benefit at vs. Indiana to Your Loans Credit Unions (1) Banks (%) (2) Members New car loans 2,061,013,041-0.84 $17,209,459 Used car loans 5,389,548,863-0.91 $48,990,999 Personal unsecured loans 455,081,261-1.03 $4,673,685 5-year adjustable rate 1st mortgage 2,853,284,452 0.01 -$199,730 15-year fixed rate 1st mortgage 2,789,155,956 0.07 -$2,063,975 30-year fixed rate 1st mortgage 2,299,152,971 0.10 -$2,207,187 Home equity / 2nd mortgage loans 1,315,923,281-0.28 $3,710,904 Credit cards 554,144,256-2.53 $12,976,673 Interest rebates $1,533,144 Total CU member benefits arising from lower interest rates on loan products: $84,623,971 Savings Regular shares 8,168,252,784 0.06 $4,492,539 Share draft checking 4,274,252,125 0.06 $2,521,809 Money market accounts 4,741,901,422 0.09 $4,267,711 Certificate accounts 3,421,437,168 0.18 $6,021,729 Retirement (IRA) accounts 1,391,655,987 0.13 $1,850,902 Bonus dividends in period $0 Total CU member benefit arising from higher interest rates on savings products: $19,154,691 Fee Income Estimated Financial Benefits for Indiana Credit Unions March 2018 Total CU member benefit arising from fewer / lower fees: $22,713,213 Total CU member benefit arising from interest rates on loans, savings products and lower fees: $126,491,876 Total CU member benefit / member: $51 Total CU member benefit / member household: $107 Source: Datatrac, NCUA, and CUNA (1) Average balance as of March 2018 and March 2017, according to the NCUA call report.; (2) Source for rates and fees: Datatrac;
Indiana Credit Union Performance Profile Demographic Information Mar 18 Mar 17 Number of branches 586 582 Total assets ($ mil) 27,667 26,335 Total loans ($ mil) 19,705 18,254 Total surplus funds ($ mil) 6,783 6,971 Total savings ($ mil) 23,357 22,334 Total members (thousands) 2,523 2,433 Growth Rates (Trailing 12 months) * Total assets 5.4 % 7.4 % Total loans 8.3 % 10.6 % Total surplus funds -2.2 % -0.5 % Total savings 5.0 % 7.7 % Total members 4.1 % 2.5 % Earnings - Basis Pts. * Yield on total assets 344 320 Dividend / interest cost of assets 55 46 Fee & other income 162 149 Operating expense 343 338 Loss Provisions 28 23 Net Income (ROA) after stabilization exp 80 62 Capital Adequacy Net worth / assets 10.8 10.5 Asset Quality * Delinquencies / loans 0.5 0.4 Net chargeoffs / average loans 0.3 0.3 Total borrower-bankruptcies 9 9 Bankruptcies per 1000 members 0.6 0.6 Asset/Liability Management Loans / savings 84.4 81.7 Loans / assets 71.2 69.3 Long-term assets / assets 33.0 34.9 Core deposits/shares & borrowings 53.6 52.5 Productivity Members / potential members 7.1 6.9 Borrowers / members 51.2 50.8 Members / FTE 360 360 Average shares / members ($) 9,256 9,179 Average loan balances ($) 15,243 14,758 Salary & Benefits / FTE 67,766 66,108 * 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.