If you're looking for the latest stats and trends for credit unions, CUNA Mutual Group'sChief Economist, Dave Colby, and his monthly trends reports are just the ticket. Each month Dave collects pertinent credit union data, analyzes it, and compiles it into a easy-to-read report complete with graphs and charts for quick views. Dave has been producing this type of trend data for credit unions since the 1990s, which developed into quite the resource for the industry. We were lucky enough to catch Dave in between reports to get the latest news on the current state of credit unions. Lots of insightful, statistical information in this in-depth interview. You won't want to miss it. Enjoy the show!
What you will learn...
1. Tell us a bit about the report itself along with your role?
2. What is the trend report comprised of? Where does the data come from?
3. First, the credit union consolidation continues at a somewhat rapid pace, losing 247 in the last year. There are now 7,446 total CUs. How can this trend continue? (How does it compare to previous years?)
4. Now talking loan growth today is like riding turbulence in the Wright Brothers' very first airplane. We're all over the place. Despite dropping like a brick during 2008-2009, credit union lending is actually up 1.3% since March of this year. But it remains in the negative at 0.3% since this time last year -- even though member business loans were up 13%. What should we make of this topsy-turvy data?
5. Annual growth for savings and assets was up 4%, but deposit yields are down and members are turning away from low-rate CDs. Why is this happening?
6. July/August membership experienced a boost of 383,000, which is positive. But the overall trend is down. Why? And how can we turn it around?
7. Some key ratio stats show positive improvement, such as capital-to-asset ration up 10.3%, loan-to-asset ration at 70.2%, and loan delinquencies slipped down to 1.5%. Albeit small, this is good news. What does this trend show?
8. Overall, what do you make of these numbers today -- and how can improve them?
CUNA Mutual Group
Dave Colby's Trend Reports
Mike Lawson, Host
Married to a beautiful and wonderful wife, raising 5 kiddos (including twins!), enjoy helping others tell their stories, and love surfing SoCal waves. Keep it simple.