Regional Performance Report: Southeastern Credit Unions

Annual auto loan growth was higher for credit unions in the Southeast than for the overall industry, yet charge-offs were lower than for other regions. In what other areas did these credit unions excel?

 
 

Credit unions in the NCUA’s Southeast Region — Alabama, Arizona, Florida, Georgia, Indiana, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, and Tennessee — excelled in various loan and share metrics. Such performance, coupled with improvements in income and efficiency, has made 2017 a great year for credit unions in this region.

Methodology

This dashboard is part of a regional data series that focuses on the performance of credit unions in the NCUA’s Southeastern 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 yellow bars represent the weighted average of credit unions within the Southeastern Region.
  • The grey bars represent the weighted average of credit unions outside the Southeastern Region.

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

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

The portion of indirect loans to total auto loans was far less for credit unions in the Southeast than for the rest of the industry — 45.2% versus 58.3%, respectively. Total annual auto loan growth for credit unions here was 12.6% versus 11.3% for the industry average, yet Southeastern credit unions charged off a lower percentage of their loans — only 0.55% — than did credit unions in other regions.

The deposit portfolio offered more good news for credit unions in the Southeast. The region’s 57.4% share draft penetration outperformed the rest of the industry by 25 basis points. Additionally, credit unions there reported money market share growth of 4.9%, 61 basis points faster than the U.S. average. Finally, the average certificate balance hit $56,753 for credit unions in the Southeast, which exceeded the industry average by $879.

On the income statement, the region’s 5.66% year-over-year growth in non-interest income exceeded the industry average by 1.2 percentage points. This performance helped Southeastern credit unions report strong annual revenue growth of 10.3%, 10 basis points higher than the national average.

Credit unions across the industry reported growth in all kinds of performance metrics, including in expenses. Expenses grew across all NCUA regions. Expenses at credit unions in the Southeast increased 6.1% in 2017 — 1.2 percentage points lower than the average of other regions.

The average member relationship at credit unions in the Southeast was lower than the national average — $16,285 versus $18,309, respectively. However, the growth in this metric, 4.2%., was 1.4 percentage points higher than the rest of the industry, a good sign for credit unions trying to deepen their relationship with members in the South.

The interactive map below shows how states in the Southeast compare to industry averages in loans, shares, income, expenses, and member relationships. Click on any Southeastern 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.

 
 

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April 16, 2018


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