Washington. Mid-Year Prepared by: CUNA Economics and Statistics
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1 Washington Mid-Year 2015 Prepared by: CUNA Economics and Statistics
2 Source: Informa Research Services, NCUA, and CUNA. (1)Assumes 1.9 credit union members per household.
3 Loan Product Comparative Interest Rates (%) by Loan Type month new car (A paper) 48-month used car (A paper) Unsecured loan (A paper) 5-year adjustable rate 1st mortgage, 0 pts 15-year fixed rate 1st mortgage, 0 pts 30-year fixed rate 1st mortgage, 0 pts Home equity / 2nd mtg, 80% LTV 0 pts Credit card - classic Credit card - gold Washington Credit Unions Washington Banks
4 Savings Product Comparative Interest Rates (%) by Savings Account Type Retirement (IRA) accounts Year certificate $10,000 balance Money market accounts Share draft checking, $5,000 balance Regular savings, $1,000 balance Washington Credit Unions Washington Banks
5 Comparative Fees by Type $1, $1, $26.35 $29.34 $24.56 $34.18 Share draft checking, NSF fee Credit cards, late fee Mortgages, closing costs Washington Credit Unions Washington Banks
6 Average Rate at Average Rate Rate Difference Loan Products Credit Unions (%) at Banks (%) vs. Banks (%) 60-month new car (A paper) month used car (A paper) Unsecured loan (A paper) year adjustable rate 1st mortgage, 0 pts year fixed rate 1st mortgage, 0 pts year fixed rate 1st mortgage, 0 pts Home equity / 2nd mtg, 80% LTV 0 pts Credit card - classic Credit card - gold Savings Products Regular savings, $1,000 balance Share draft checking, $5,000 balance Money market accounts Year certificate $10,000 balance Retirement (IRA) accounts Fee Income Washington Credit Union and Banking Institution Mid-year 2015 Average Interest Rates and Fees Share draft checking, NSF fee $26.35 $ $2.99 Credit cards, late fee $24.56 $ $9.62 Mortgages, closing costs $1, $1, $ Source: Informa Research Services
7 State Credit Union's Total Loan Rate Benefits Compared to State Banking Institutions by Loan Type $97,701,894 $59,981,116 $36,147,310 $9,558,076 $1,591,850 $10,853,044 -$1,911,706 -$565,382 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
8 State Credit Union's Total Savings Dividend Benefits Compared to State Banking Institutions by Account Type $15,118,060 $6,911,338 $5,306,713 $1,842,846 $1,443,451 Regular shares Share draft checking Money market accounts Certificate accounts Retirement (IRA) accounts
9 Rate Total Avg. Balance Difference Financial Benefit at vs. Washington to Your Loans Credit Unions (1) Banks (%) (2) Members New car loans 3,449,170, $36,147,310 Used car loans 5,117,842, $59,981,116 Personal unsecured loans 889,123, $9,558,076 5-year adjustable rate 1st mortgage 2,987,040, $1,911, year fixed rate 1st mortgage 3,248,674, $1,591, year fixed rate 1st mortgage 3,325,777, $565,382 Home equity / 2nd mortgage loans 3,249,414, $10,853,044 Credit cards 1,999,015, $97,701,894 Interest rebates $3,638 Total CU member benefits arising from lower interest rates on loan products: $213,359,839 Savings Regular shares 14,699,041, $6,911,338 Share draft checking 4,608,987, $15,118,060 Money market accounts 7,229,067, $1,842,846 Certificate accounts 5,140,311, $5,306,713 Retirement (IRA) accounts 2,242,612, $1,443,451 Bonus dividends in period $0 Total CU member benefit arising from higher interest rates on savings products: $30,622,407 Fee Income Estimated Financial Benefits for Washington Credit Unions Mid-year 2015 Total CU member benefit arising from fewer / lower fees: $39,904,990 Total CU member benefit arising from interest rates on loans, savings products and lower fees: $283,887,236 Total CU member benefit / member: $88 Total CU member benefit / member household: $168 Source: Informa Research Services, NCUA, and CUNA (1) Average balance as of Mid-year 2015 and Mid-year 2014, according to the NCUA call report.; (2) Source for rates and fees: Informa Research Services;
10 Washington Credit Union Performance Profile Demographic Information Jun 15 Jun 14 Number of branches Total assets ($ mil) 40,919 37,816 Total loans ($ mil) 28,031 25,018 Total surplus funds ($ mil) 10,979 11,041 Total savings ($ mil) 35,400 32,879 Total members (thousands) 3,312 3,137 Growth Rates (Trailing 12 months) * Total assets 8.8 % 6.3 % Total loans 12.5 % 11.0 % Total surplus funds 0.2 % -3.1 % Total savings 8.3 % 5.1 % Total members 6.3 % 3.6 % Earnings - Basis Pts. * Yield on total assets Dividend / interest cost of assets Fee & other income Operating expense Loss Provisions Net Income (ROA) after stabilization exp Capital Adequacy Net worth / assets Asset Quality * Delinquencies / loans Net chargeoffs / average loans Total borrower-bankruptcies Bankruptcies per 1000 members Asset/Liability Management Loans / savings Loans / assets Long-term assets / assets Core deposits/shares & borrowings Productivity Members / potential members Borrowers / members Members / FTE Average shares / members ($) 10,688 10,481 Average loan balances ($) 14,174 13,958 Salary & Benefits / FTE 74,143 72,118 * 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.
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