Regional Performance Report: New England Credit Unions

The average member relationship surpassed $18,000 for credit unions in the New England states. In what other areas do these cooperatives excel?

 
 

Credit unions in the NCUA New England region — New York, Vermont, Michigan, Maine, Massachusetts, Wisconsin, New Hampshire, Connecticut, and Rhode Island — surpassed industry averages in a number of metrics at the close of 2017.

Methodology

This dashboard is part of a regional data series and focuses on the performance of credit unions in the NCUA’s New England Region.

All ratios displayed represent weighted averages.

  • The blue bar labeled “Industry” refers to the weighted average of all credit unions in the United States.
  • The red bars represent the weighted average of credit unions within the New England Region.
  • Grey bars represent the weighted average of credit unions outside the New England Region.

To examine the performance of credit unions in any New England state, click on a red state on the map that appears on each page of the dashboard. The default state is New York, but clicking on Maine, for example, changes the yellow bars to populate with Maine data.

The data for this dashboard comes from Peer-to-Peer by Callahan & Associates. Learn more today.

The average member relationship reached $18,534 for credit unions in the New England states. By comparison, the industry average for all U.S. credit unions was $18,309. Dividends as a percentage of income were 10.1%, compared with 9.8% for the industry.  In fee income, however, New England credit unions came in $6 under the average posted by all other credit unions — $70 versus $64.

On the lending side, average loan balances per member were $15,732. That’s $1,108 more than the average loan for credit unions outside of the region. Despite being slightly smaller than credit unions in other regions in both assets and members, credit unions in New England had a higher first mortgage balance per institution. Balances averaged $74.3 million per institution for the New England region compared with $68.3 million for those outside of the region.

In the deposit portfolio, New England credit unions held a higher concentration of money market shares than the industry — 23.3% versus 22.4%. Share balances averaged $10,532 and share certificates grew 7.8% year-over-year.

Credit unions in New England also excelled in efficiency and productivity in the fourth quarter of 2017. Shares per full time employee averaged $4.0 million. Yield on investments within the New England region was 1.71%, 6 basis points higher than the average of credit unions outside of the region. 

The interactive map below shows how states in the New England Region compare to industry averages in loans, shares, member relationships, and efficiency and productivity. Click on any New England state on the map to change the table and the graphs.

Don’t see analysis for your state? Watch for more regional analysis in the upcoming weeks or click here to see other regions.

 
 

Performance Analysis Made Easy

How does your credit union stack up? Go beyond regional averages and dive deeper into individual credit unions, peer groups, states, and more. Learn what Peer-to-Peer can do for you.

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April 9, 2018


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