Benchmarking For Strategic Planning, Rewards Programs, And Life In Branching

Five can't-miss data points featured this week on CreditUnions.com.

 
 

This week, CreditUnions.com looks at strategic planning, faith-based credit unions, branching, credit card rewards programs, and mortgage lending.

Here are five don’t-miss data points for the week:

36

Incorporating peer analysis into strategic planning is an ideal way to enhance the impact of planning season. Knowing where to start and choosing what to analyze can be daunting, but that shouldn’t stop teams from putting together a relevant financial analysis presentation. That’s why Callahan has compiled 36 benchmarks covering six high-level areas of credit union financial performance to steer strategic planning in the right direction.

Check out "How To Leverage Data For Better Strategic Planning," for a breakdown of three metrics and suggestions for additional ratios to dig deeper.

 

 

200

There are more than 200 faith-based credit unions in the United States, all of which serve the financial needs of their membership. But the relationship doesn’t stop with money. What differentiates this group of credit unions is their ability and willingness to meet the spiritual needs of members, too.

Learn how in “How 4 Credit Unions Tie Faith To Finances.”

4

The average number of branches for all credit unions in the industry increased from three to four in the third quarter of 2016. Credit unions with $500 million to $1 billion in assets have increased their average number of branches 57.1% in the past two years; credit unions with more than $1 billion in assets increased their footprints 64.3%.

Learn more credit union branching facts in “Is The Branch Dead?” 

$52 Billion

Credit card balances across the credit union industry totaled slightly more than $52 billion as of first quarter 2017 — an 8.12% increase year-over-year. Credit card penetration has also steadily risen, going from 14.96% as of first quarter 2012 to 17.19% as of first quarter 2017. As card lending increases, credit unions are looking for ways to add value to their suite of products. One way they are doing that is through rewards programs.

Read “3 Lessons From Top Credit Card Rewards Programs” for best practices from three credit unions who are well-versed in rewards.

3,289

The number of credit unions that originated a first mortgage in 2016 totaled 3,289. That’s 267 institutions fewer than in 2011. Data from Callahan & Associates shows the number of credit unions with more than $100 million in assets that originate mortgages has steadily grown in the past six years; however, the number of credit unions smaller than that that originate mortgages has declined.

Learn about the driving forces behind these trends in "Mergers Shrink The Number Of Credit Unions, But The Mortgage Business Just Keeps Growing."

 

 

July 31, 2017


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