Corporate Assets Hit top $67 billion in May.

With credit union deposits growing fast, see how the corporate credit unions are doing and which ones are outperforming the others.

 
 

The total assets of the 34 “retail” corporate credit unions ended May at $67.1 billion a 2.76 % increase over April and 15.1% higher than one year earlier. Total savings also hit an all time high of $59.9 billion and the RUDE capital ratio stayed strong at 3.35%.


All corporates, except the two who have announced mergers, recorded positive ROA’s for the month with the average for the system at 18 basis points (bp). On a year-to-date basis, ROA is 22 bp with Southwest Corporate still the leader at 40 bp.

The annualized yield on daily average net assets (DANA) was 2.67 % for all corporates but ranged from a high of 3.25% at Missouri Corporate to a low of 1.81% at Corpstar. The average cost of funds was 2.28% and the net interest margin was 39 bp. The highest net interest margins were achieved by Northwest Corporate at 64 bp, Louisiana Corporate at 50 bp, and Suncorp at 52bp.

The highest non-interest income to DANA was achieved by Corporate One in Ohio at 77bp and First Corporate in Arizona at 74bp.

Loans at Corporates fell in May to $330 million or 10% from April month end. WesCorp at $78 million and Wisconsin Corporate Central at $73 million had the largest amount of loans outstanding.

 

 

 

Aug. 12, 2002


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