First Mid Quarter Year 2017 2018 Maine Maine 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 13.27 11.52 11.61 11.31 9.90 8.67 4.70 4.96 4.11 4.19 3.85 4.32 4.75 4.72 4.49 5.22 2.98 2.92 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 Maine Credit Unions Maine Banks
Savings Product Comparative Interest Rates (%) by Savings Account Type Retirement (IRA) accounts 0.21 0.58 1 Year certificate $10,000 balance 0.34 0.89 Money market accounts 0.08 0.27 Share draft checking, $5,000 balance 0.05 0.09 Regular savings, $1,000 balance 0.07 0.11 Maine Credit Unions Maine Banks
Comparative Fees by Type $1,361.00 $1,151.00 $29.00 $32.32 $24.56 $34.18 Share draft checking, NSF fee Credit cards, late fee Mortgages, closing costs Maine Credit Unions Maine Banks
Maine 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) 2.98 4.70-1.72 48-month used car (A paper) 2.92 4.96-2.04 Unsecured loan (A paper) 8.67 11.52-2.85 5-year adjustable rate 1st mortgage, 0 pts 4.11 3.85 0.26 15-year fixed rate 1st mortgage, 0 pts 4.19 4.32-0.13 30-year fixed rate 1st mortgage, 0 pts 4.75 4.72 0.04 Home equity / 2nd mtg, 80% LTV 0 pts 4.49 5.22-0.73 Credit card - rewards 11.61 13.27-1.66 Credit card - platinum 9.90 11.31-1.42 Savings Products Regular savings, $1,000 balance 0.11 0.07 0.04 Share draft checking, $5,000 balance 0.09 0.05 0.04 Money market accounts 0.27 0.08 0.18 1 Year certificate $10,000 balance 0.89 0.34 0.55 Retirement (IRA) accounts 0.58 0.21 0.36 Fee Income Share draft checking, NSF fee $29.00 $32.32 -$3.32 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 $22,812,060 $4,701,044 $5,978,093 $3,885,722 $2,359,850 $951,297 -$1,435,951 -$513,717 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 $6,729,530 $2,213,999 $1,763,064 $968,437 $419,430 Regular shares Share draft checking Money market accounts Certificate accounts Retirement (IRA) accounts
Rate Total Avg. Balance Difference Financial Benefit at vs. Maine to Your Loans Credit Unions (1) Banks (%) (2) Members New car loans 273,475,519-1.72 $4,701,044 Used car loans 1,119,335,631-2.04 $22,812,060 Personal unsecured loans 210,052,474-2.85 $5,978,093 5-year adjustable rate 1st mortgage 563,118,100 0.26 -$1,435,951 15-year fixed rate 1st mortgage 737,439,183-0.13 $951,297 30-year fixed rate 1st mortgage 1,426,991,012 0.04 -$513,717 Home equity / 2nd mortgage loans 533,753,013-0.73 $3,885,722 Credit cards 147,652,094-1.66 $2,359,850 Interest rebates $0 Total CU member benefits arising from lower interest rates on loan products: $38,738,398 Savings Regular shares 2,421,091,355 0.04 $968,437 Share draft checking 1,103,763,173 0.04 $419,430 Money market accounts 974,068,620 0.18 $1,763,064 Certificate accounts 1,230,261,458 0.55 $6,729,530 Retirement (IRA) accounts 608,241,425 0.36 $2,213,999 Bonus dividends in period $0 Total CU member benefit arising from higher interest rates on savings products: $12,094,460 Fee Income Estimated Financial Benefits for Maine Credit Unions March 2018 Total CU member benefit arising from fewer / lower fees: $7,818,320 Total CU member benefit arising from interest rates on loans, savings products and lower fees: $58,651,177 Total CU member benefit / member: $86 Total CU member benefit / member household: $181 Source: Datatrac, NCUA, and CUNA (1) Average balance as of March 2018 and March 2017, according to the NCUA call report.; (2) Source for rates and fees: Datatrac;
Maine Credit Union Performance Profile Demographic Information Mar 18 Mar 17 Number of branches 189 194 Total assets ($ mil) 7,756 7,550 Total loans ($ mil) 5,619 5,288 Total surplus funds ($ mil) 1,730 1,870 Total savings ($ mil) 6,679 6,493 Total members (thousands) 691 689 Growth Rates (Trailing 12 months) * Total assets 5.9 % 8.7 % Total loans 9.2 % 10.0 % Total surplus funds -3.9 % 6.2 % Total savings 6.2 % 9.3 % Total members 2.9 % 3.1 % Earnings - Basis Pts. * Yield on total assets 394 376 Dividend / interest cost of assets 54 48 Fee & other income 139 122 Operating expense 384 371 Loss Provisions 24 20 Net Income (ROA) after stabilization exp 71 60 Capital Adequacy Net worth / assets 10.8 10.4 Asset Quality * Delinquencies / loans 0.6 0.7 Net chargeoffs / average loans 0.3 0.2 Total borrower-bankruptcies 3 2 Bankruptcies per 1000 members 0.2 0.1 Asset/Liability Management Loans / savings 84.1 81.4 Loans / assets 72.4 70.0 Long-term assets / assets 40.9 40.9 Core deposits/shares & borrowings 54.0 52.7 Productivity Members / potential members 6.2 6.4 Borrowers / members 64.9 60.8 Members / FTE 318 318 Average shares / members ($) 9,664 9,427 Average loan balances ($) 12,527 12,629 Salary & Benefits / FTE 66,402 61,600 * 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.