First Mid Quarter Year 2017 2018 Hawaii Hawaii 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 14.27 11.24 9.58 8.90 6.90 5.82 6.10 6.12 2.88 3.03 3.74 3.47 3.95 3.95 4.58 4.61 4.31 4.96 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 Hawaii Credit Unions Hawaii Banks
Savings Product Comparative Interest Rates (%) by Savings Account Type Retirement (IRA) accounts 0.27 0.51 1 Year certificate $10,000 balance 0.34 0.85 Money market accounts 0.17 0.21 Share draft checking, $5,000 balance 0.07 0.12 Regular savings, $1,000 balance 0.14 0.18 Hawaii Credit Unions Hawaii Banks
Comparative Fees by Type $1,361.00 $1,151.00 $24.43 $28.57 $24.56 $34.18 Share draft checking, NSF fee Credit cards, late fee Mortgages, closing costs Hawaii Credit Unions Hawaii Banks
Hawaii 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) 2.88 5.82-2.95 48-month used car (A paper) 3.03 6.10-3.07 Unsecured loan (A paper) 6.12 6.90-0.77 5-year adjustable rate 1st mortgage, 0 pts 3.74 3.47 0.26 15-year fixed rate 1st mortgage, 0 pts 3.95 3.95 0.00 30-year fixed rate 1st mortgage, 0 pts 4.58 4.31 0.26 Home equity / 2nd mtg, 80% LTV 0 pts 4.61 4.96-0.35 Credit card - rewards 9.58 14.27-4.69 Credit card - platinum 8.90 11.24-2.34 Savings Products Regular savings, $1,000 balance 0.14 0.18-0.04 Share draft checking, $5,000 balance 0.12 0.07 0.05 Money market accounts 0.17 0.21-0.03 1 Year certificate $10,000 balance 0.85 0.34 0.51 Retirement (IRA) accounts 0.51 0.27 0.24 Fee Income Share draft checking, NSF fee $24.43 $28.57 -$4.14 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 $14,790,739 $12,975,926 $8,260,857 $6,988,346 $3,213,732 -$3,260 -$2,860,557 -$2,366,468 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 $7,647,537 $734,876 $1,172,620 -$599,412 -$1,783,797 Regular shares Share draft checking Money market accounts Certificate accounts Retirement (IRA) accounts
Rate Total Avg. Balance Difference Financial Benefit at vs. Hawaii to Your Loans Credit Unions (1) Banks (%) (2) Members New car loans 501,891,392-2.95 $14,790,739 Used car loans 422,944,117-3.07 $12,975,926 Personal unsecured loans 902,887,049-0.77 $6,988,346 5-year adjustable rate 1st mortgage 1,083,544,423 0.26 -$2,860,557 15-year fixed rate 1st mortgage 326,008,195 0.00 -$3,260 30-year fixed rate 1st mortgage 899,797,731 0.26 -$2,366,468 Home equity / 2nd mortgage loans 923,486,244-0.35 $3,213,732 Credit cards 201,422,914-4.69 $8,260,857 Interest rebates $147,280 Total CU member benefits arising from lower interest rates on loan products: $41,146,595 Savings Regular shares 4,573,839,060-0.04 -$1,783,797 Share draft checking 1,469,751,658 0.05 $734,876 Money market accounts 1,816,399,041-0.03 -$599,412 Certificate accounts 1,502,463,115 0.51 $7,647,537 Retirement (IRA) accounts 492,697,488 0.24 $1,172,620 Bonus dividends in period $0 Total CU member benefit arising from higher interest rates on savings products: $7,171,824 Fee Income Estimated Financial Benefits for Hawaii Credit Unions March 2018 Total CU member benefit arising from fewer / lower fees: $9,291,272 Total CU member benefit arising from interest rates on loans, savings products and lower fees: $57,609,691 Total CU member benefit / member: $65 Total CU member benefit / member household: $137 Source: Datatrac, NCUA, and CUNA (1) Average balance as of March 2018 and March 2017, according to the NCUA call report.; (2) Source for rates and fees: Datatrac;
Hawaii Credit Union Performance Profile Demographic Information Mar 18 Mar 17 Number of branches 171 164 Total assets ($ mil) 11,583 11,290 Total loans ($ mil) 5,671 5,157 Total surplus funds ($ mil) 5,458 5,709 Total savings ($ mil) 10,171 9,930 Total members (thousands) 892 878 Growth Rates (Trailing 12 months) * Total assets 3.3 % 4.8 % Total loans 10.4 % 8.9 % Total surplus funds -3.4 % 1.2 % Total savings 3.1 % 5.0 % Total members 2.6 % -0.1 % Earnings - Basis Pts. * Yield on total assets 316 292 Dividend / interest cost of assets 30 27 Fee & other income 102 82 Operating expense 288 273 Loss Provisions 25 25 Net Income (ROA) after stabilization exp 75 48 Capital Adequacy Net worth / assets 11.5 11.3 Asset Quality * Delinquencies / loans 0.6 0.6 Net chargeoffs / average loans 0.5 0.5 Total borrower-bankruptcies 2 3 Bankruptcies per 1000 members 0.1 0.2 Asset/Liability Management Loans / savings 55.8 51.9 Loans / assets 49.0 45.7 Long-term assets / assets 36.8 36.2 Core deposits/shares & borrowings 61.0 59.8 Productivity Members / potential members 9.3 9.2 Borrowers / members 45.0 42.0 Members / FTE 385 384 Average shares / members ($) 11,406 11,312 Average loan balances ($) 14,139 13,981 Salary & Benefits / FTE 70,524 66,107 * 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.