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This sponsored content article is provided to the credit union community for shared insights and knowledge from a recognized solutions provider in the industry. Please note that the views and opinions offered here do not reflect those of Callahan & Associates, and Callahan does not endorse vendors or the solutions they offer.

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November 24, 2003


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Anonymous

7/26/2012 03:57 PM

good article, our credit union can relate to these issues.

Anonymous

7/26/2012 03:57 PM

Look at their 5300. I think there are ample signs that the indirect lending may have a charge-off surprise waiting for these folks. The allowance is $573,960 and total delinquent loans is $1,053,785. I call that under reserved by a bunch. The net charge off YTD is $245,636 while the provision is only $299,638 year to date. Year to date they have had 50 bankruptcies filed--given that so much of their loan production is in autos that is not a good sign either. Henry Wirz SAFE CU

Anonymous

7/26/2012 03:57 PM

Look at their 5300. I think there are ample signs that the indirect lending may have a charge-off surprise waiting for these folks. The allowance is $573,960 and total delinquent loans is $1,053,785. I call that under reserved by a bunch. The net charge off YTD is $245,636 while the provision is only $299,638 year to date. Year to date they have had 50 bankruptcies filed--given that so much of their loan production is in autos that is not a good sign either. Henry Wirz SAFE CU

Anonymous

7/26/2012 03:57 PM

Do you have more information? and also is the anything on this side of the states. Sincerely, Jeannette Sicilia Operations Supervisor jeannettes@chooseSPCU.org Spokane Postal Credit Union Spokane Washington.

Anonymous

7/26/2012 03:57 PM

It would have been a better report if you would have included rate information.

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