By 2015, the population of south-central Minnesota’s Brown County was in decline and had dropped by more than 12% from its peak in 1970. SouthPoint Financial Credit Union, a federally chartered institution that operated three branches in Brown County, anticipated the trend would continue. To survive and grow, the credit union needed to expand.
See how the credit union plans to thrive this new era in "A Field Of Dreams For The Modern Age."
Civic Federal earned its credit union charter in December 2017. A spinoff of Local Government FCU, Civic is built to address two specific areas: business loans and mobile access. The new credit union has a TIP charter, an estimated potential membership of 238,000, and plans to soft launch in fourth quarter 2018.
Learn more about this new cooperative in "A New Credit Union For A Membership's Needs."
2017 data is in the books. For those in the throes of creating year-end reports, consider how your credit union compares to the industry in five metrics: loan growth, share composition, member growth, earnings, and asset quality.
See how these metrics will set the tone for 2018 in "5 Metrics For Year-End Reporting."
10 Basis Points
The spread between the industry’s net interest margin and the operating expense ratio has narrowed from 36 basis points in the fourth quarter of 2013 to 10 basis points as of year-end 2017, according to our analysis of credit union call reports. This is just one measurement that shows why non-interest income (NII) has become so important to credit unions.
Read more in "Non-Interest Income Continues To Grow In Importance."
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