3Q 2016 - Iowa Credit Union League · 2016-12-21 · 3Q 2016 QUARTERLY PERFORMANCE SUMMARY 3 KEY PERFORMANCE COMPARISONS | AS OF SEPTEMBER 30, 2016 AS A % OF AVERAGE ASSETS U.S. CUs

3Q 2016 QUARTERLY PERFORMANCE SUMMARY

IOWA CREDIT UNION LEAGUE

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TABLE OF CONTENTS

Key Performance Comparisons 3

Executive Summary 4

The National Economic Summary 5

IOWA CREDIT UNION RESULTS

Credit Unions In Iowa Post Strong Third Quarter Financial Metrics 6

ROA Decreases Three Basis Points On Higher Operating Expenses 6

Loan Originations Increase 20% To Top $5.4 Billion 7

Iowa Delinquency Rate Holds Steady From Third Quarter 2015 8

Asset Quality Comparisons 9

Iowa Share Growth Tops National Average 10

Growth In The Loan Portfolio Increases Interest Income By 9.6% 11

Average Member Relationship Tops $20,000 12

Special Section: Mortgage Lending 12-13

PERFORMANCE DATA TABLES

Consolidated U.S. Credit Union Financial Statement 14

U.S. Credit Union Peer Group Performance 15

Consolidated Iowa Credit Union Financial Statement 16

Iowa Credit Union Peer Group Performance 17

Iowa Credit Union Leaders 18-20

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3RD QUARTER 2016

PERFORMANCE COMPARISON REPORT

© 2016 CALLAHAN & ASSOCIATES, INC | CALLAHAN.COM | CREDITUNIONS.COM

3Q 2016 QUARTERLY PERFORMANCE SUMMARY 3

KEY PERFORMANCE COMPARISONS | AS OF SEPTEMBER 30, 2016

AS A % OF AVERAGE ASSETS

U.S. CUs IA CUs

Interest Income 3.40% 3.59%

Interest Expense 0.51% 0.75%

Net Interest Margin 2.89% 2.85%

Loss Provisions 0.38% 0.26%

Operating Expenses (including stabilization expenses) 3.10% 2.93%

Non-Interest Income 1.38% 1.29%

ROA 0.78% 0.95%

U.S. CUs IA CUs

12-Month Loan Growth 10.09% 14.39%

12-Month Share Growth 8.62% 10.00%

12-Month Member Growth 3.97% 2.61%

12-Month Net Worth Growth 6.81% 9.38%

12-Month Asset Growth 8.23% 11.13%

Loans/Shares 78.52% 91.39%

Net Worth/Assets 10.85% 10.47%

Capital/Assets 11.35% 11.04%

Delinquency Ratio 0.77% 0.70%

Average Loan Balance $14,143 $15,448

Average Share Balance $10,074 $11,569

U.S. CUs IA CUs IA as % of Industry

Number of CUs 5,967 95 1.59%

Federal Chartered CUs 3,648 1 0.03%

State Chartered CUs, NCUSIF Insured 2,196 94 4.28%

State Chartered CUs, ASI Insured 123 0 0.00%

Total State Chartered CUs 2,319 94 4.05%

Total Members 107,534,738 1,096,272 1.02%

Members, Average per CU 18,022 11,540 64.03%

# of Mergers/Liquidations YTD 180 1 0.56%

Total Assets $1,293,269,503,418 $15,218,371,818 1.18%

Total Loans $857,309,867,258 $11,590,883,673 1.35%

Total Shares $1,091,876,530,852 $12,683,227,218 1.16%

Total Net Worth $140,352,117,260 $1,593,402,660 1.14%

Average Asset Size $216,736,971 $160,193,388 73.91%

4 3Q 2016 QUARTERLY PERFORMANCE SUMMARY


KEY TAKEAWAYS FOR IOWA CREDIT UNIONS

Year-to-date total loan originations in Iowa increased an impressive 20.3% over 2015 levels to reach

$5.4 billion. This growth is primarily due to strong first mortgage loan origination activities in the state.

Year-to-date first mortgage originations in Iowa rose 27.1% over the same period in 2015, nearing $1.7

billion at the end of the third quarter. Member business lending increased 41.6% compared to the same

time last year, reaching $544.5 million.

As loan originations surge, Iowa’s total loan portfolio followed that trend. Total loan balances are up

14.4% from the previous September to nearly $11.6 billion as of September 2016. The auto loan

segment continued to be a bright spot in the overall loan portfolio, with balances increasing 16.0% to

surpass $4.0 billion.

Share balances at Iowa credit unions were up 10.0% annually to almost reach $12.7 billion as of

September 30. Three of the five share products posted double digit growth, led by share drafts, which

increased 13.4% to $1.8 billion.

Growth in loan income and non-interest income helped send total income up 9.4% in Iowa. However, an

11.1% increase in operating expenses and a large increase in dividends led to net income decreasing

2.7% from year-to-date levels in 2015. This decline contributed to a 14 basis point annual decline in

ROA.

With high growth reported in the loan portfolio, keeping asset quality strong is important for overall credit

union health. The 0.70% delinquency rate reported in the third quarter was steady from the rate reported

a year ago, indicating that credit unions in Iowa are making sound lending decisions. Net charge-offs

decreased two basis points annually to 0.32%.

As of September 30, 95 credit unions were operating in Iowa. These institutions served just under 1.1

million members. The average member relationship (the outstanding combined loan and share balances

per member, excluding business loans) in the state was $20,375, $2,870 higher than the national

average, evidence that members in Iowa are continuing to depend heavily on their credit union for

financial products and services.

EXECUTIVE SUMMARY

As nationwide economic growth picked up in the third quarter of 2016, credit unions nationally

continued to perform extremely well and lead the way in a variety of metrics. Iowa credit unions in

particular performed better than their national peers across many financial indicators. Not only did

Iowa credit unions surpass their credit union peers in growth metrics including loans, shares, and

assets, they performed better than many of the banks in the state and the nation. The future for

Iowa credit unions looks bright as they continue to grow deposits, make loans, and maintain strong

asset quality.



THE NATIONAL ECONOMIC SUMMARY

Real gross domestic product (GDP) increased 3.2% in

the third quarter of 2016, according to the “second”

estimate released by the Bureau of Economic Analysis

(BEA). Third quarter GDP growth primarily reflected an

upturn in private inventory investment, an acceleration

in exports, an upturn in federal government spending,

and smaller decreases in state and local government

spending and residential fixed investment, that were

partly offset by a deceleration in PCE, an acceleration in

imports, and a deceleration in nonresidential fixed

investment (BEA).

According to the National Association of Realtors,

national median home prices rose 5.6% year-over-year,

reaching $234,200 as of September 2016. Total

existing-home sales increased from September 2015, up

3.2%. Home sales increased to a seasonally adjusted

annual rate of 5.47 million in September. According to

Lawrence Yun, the chief economist at the National

Association of Realtors, "the home search over the past

several months for a lot of prospective buyers, and

especially for first-time buyers, took longer than usual

because of the competition for the minimal amount of

homes for sale.” Yun reported that inventory remains

extremely tight and is unlikely to improve now that the

seasonal decline in listings is about to kick in.

In Iowa, the median home price increased 7.0% from the

previous September to $149,645. Iowa’s home sales in

the first nine months of 2016 were also up 4.3%

compared to September 2015 (Iowa Association of

Realtors). 32,770 homes were sold in Iowa during the

first nine months of the year, versus 31,413 in the same

period in 2015.

Nationwide, there were approximately 36,000

completed foreclosures in September, down 7.0% year-

over-year (CoreLogic). The national foreclosure rate

stood at 0.9% as of September 2016, the 59th

consecutive month with a year-over-year decline. Iowa

reported a foreclosure inventory rate of 0.7% as of

September 2016, and a foreclosure inventory decline

of 30.9% from September 2015.

The national unemployment rate decreased to 5.0% as

of September 2016, down 0.1 percentage points from

September 2015. Iowa’s unemployment rate is still

significantly below the national average, standing at

4.2% as of September 2016, but is up 60 basis points

from September 2015.

Total nonfarm payroll data show that over 1.59 million

people were employed in Iowa as of September 2016.

The trade, transportation, & utilities sector remains the

largest portion of the overall nonfarm payroll in the

state, accounting for 20.0% of all nonfarm employees.

The next largest industry is government, accounting for

16% of total nonfarm payrolls. Education & health

services account for 15% of Iowa’s total nonfarm

employees as of September 2016.



CREDIT UNIONS IN IOWA POST STRONG

THIRD QUARTER FINANCIAL METRICS

On an annual basis, Iowa credit unions grew their loan

and share balances faster than all but Iowa savings banks

as of September 2016. This shows that Iowans are

increasingly turning to credit unions for their financial

needs. Additionally, asset quality, which includes both

delinquency and net charge-offs, continues to improve

and remains below both state and national peer averages.

Earnings

Iowa credit unions recorded an ROA of 0.95% in the third

quarter of 2016, down 14 basis points from September

2015. This is higher than the average for U.S. credit

unions nationwide, but below the average for national

banks and Iowa savings and commercial banks.

Growth

Outstanding loan balances at Iowa credit unions

expanded an impressive 14.4% since September 2015.

This loan growth is more than double the rate reported by

banks nationwide, and was the highest among all peer

groups. Share balances at Iowa credit unions grew 10.0%

year-over-year, also faster than the growth rate posted by

Iowa commercial banks, credit unions nationwide, and

national banks, but remained lower than Iowa savings

institutions, which reported a 18.9% growth rate.

Asset Quality

At 70 basis points, Iowa credit unions’ delinquency ratio is

lower than all peer group averages. The states’ credit

union net charge-off ratio of 32 basis points is also lower

than that of national banks and credit unions and Iowa

savings institutions.

Net Worth

As of September 2016, Iowa credit unions reported a net

worth ratio of 10.5%, down 17 basis points from a year

prior. Despite the decline, Iowa credit unions are more

capitalized than their local savings and national bank

peers, outpaced only by Iowa commercial banks and

national credit union peers.

ROA DECREASES THREE BASIS POINTS ON

HIGHER OPERATING EXPENSES

Nationally, year-to-date net income at credit unions

increased 5.5% from a year ago. This growth was driven

by a 8.4% increase in total income offsetting increased

operating expenses and higher provision expenses.

While credit unions nationally increased their net income,

Iowa credit unions’ year-to-date net income of $104.9

million is 2.7% lower than the net income of $107.8

million reported in September 2015. A $32.2 million

increase in operating expenses offset a large portion of

the $46.4 million increase in total income. Another factor

that led to the decrease in net income was a 19.1%

increase in dividends. Iowa credit unions paid out $75.8

million in dividends through the end of September,

indicating a desire to ensure their members are receiving

the best rates possible.

Nationally, credit unions reported an annualized ROA of

78 basis points, down 2 basis points from a year ago but

up 1 basis point from the rate reported in June 2016.

Despite declining 14 basis points over the period, Iowa

credit unions’ ROA remains 17 basis points above the

national average. The combination of strong asset growth

(11.1%), and increases in cost of funds (18.7%) and

operating expenses (11.1%) contributed to the decrease

in ROA at Iowa credit unions.

Through September, credit unions nationwide reported a

net interest margin of 2.89%, up 3 basis points from the

third quarter of 2015. Iowa credit unions reported a nine

basis point decline in their net interest margin, falling to

2.85%.



LOAN ORIGINATIONS INCREASE 20% TO TOP

$5.4 BILLION

In the first nine months of 2016, credit unions nationally

posted a growth rate of 10.7% in loans originated compared

to the same period in 2015. The growth rate reported in

Iowa was nearly double the growth rate nationally, with total

originations up 20.3% over 2015 levels to reach $5.4

billion.

On a national level, the industry posted a record third

quarter origination amount of $343.6 billion through

September 30, with every major loan category posting year-

over-year growth. In Iowa, growth mirrored the national

trends, with all origination categories posting at least a 6.6%

growth rate.

Real Estate

First mortgage lending seemed to be slowing nationwide in

the first half of 2016, but the growth rate has picked up

significantly in the third quarter. Nationally, credit unions

saw first mortgage originations grow 7.5% from September

2015 levels. First mortgage originations in Iowa grew

considerably over the past year, up 27.1% from the first

nine months of 2015 to just under $1.7 billion. Other real

estate originations also increased compared to last year,

posting year-over-year growth of 6.6%.

In the first nine months of 2016, Iowa credit unions sold

over $1.1 billion in first mortgages to the secondary market,

or 62.3% of total first mortgage originations. This is down

from the 65.8% of originations sold in the same period of

2015. However, this was well above the percentage of

originations sold by credit unions nationally, which on

average sold only 40.4% of the first mortgages they

originated. Despite Iowa credit unions selling a notably

higher percentage of mortgages to the secondary market,

Iowa’s first mortgage portfolio grew 15.4%, significantly

above the national average growth rate of 9.2%.

Consumer Loans

Iowa credit unions originated over $2.7 billion in consumer

loans in the first nine months of 2016, up $366.3 million

from the same period in 2015. This 15.4% increase tops the

12.0% increase in consumer originations seen nationally.

On the balance sheet, credit unions in Iowa posted a higher

overall auto loan growth rate than credit unions nationally.

In Iowa, new auto loan balances jumped 24.0% to reach

nearly $1.2 billion, outpacing the national average of

15.9%. Iowa credit unions’ used auto loan growth of 13.0%

also exceeds the national average of 12.3%, with used auto

loan balances in Iowa totaling nearly $2.9 billion. In

aggregate, Iowa credit unions’ overall auto loan portfolio

increased $559.6 million, up 16.0% over the previous

September to reach over $4.0 billion. Over the past twelve

months, outstanding indirect loans in Iowa grew 22.5% year-

over-year, topping $2.3 billion. Indirect loans now represent

58.4% of Iowa’s total auto loans, up from 55.2% a year ago.

Credit card loans, while just 3.8% of the Iowa loan portfolio,

rose 14.8% annually to nearly $434.7 million. Other

unsecured loans and lines of credit at Iowa credit unions

totaled $811.0 million as of September 2016, up 14.3%

from one year ago.

Member Business Lending

Perhaps the largest surprise from an origination perspective,

member business lending surged at both national and local

levels through the end of the third quarter. Nationally, credit

unions originated $15.6 billion in MBL, up 16.3% from the

same period in 2015. Credit unions in Iowa originated

$544.5 million through September 30, an increase of 41.6%

from the $384.6 million originated in the first nine months of

2015.



IOWA DELINQUENCY RATE HOLDS STEADY

FROM THIRD QUARTER 2015

The overall delinquency rate at credit unions nationwide

decreased one basis point over the last twelve months to

0.77% as of September 2016. In Iowa, the delinquency

rate held steady over the past twelve months to stand at

0.70% as of September 30. Increases in first mortgage,

credit card, and auto delinquency were offset by

decreases in other categories (see chart on the next

page for comparisons). The delinquency rate reported in

Iowa over the past year has returned to pre-recession

levels.

First mortgage delinquency increased over the past year

while other real estate delinquency decreased. However,

both rates at Iowa credit unions remain well below the

national averages. As of September 2016, credit unions

in Iowa reported an average first mortgage delinquency

rate of 0.57%, up six basis points from September 2015.

Other real estate delinquency declined 16 basis points

over the previous September to 0.40%, compared to the

national average of 0.62%.

Since September 2015, the net charge-off ratio for first

mortgages held steady at two basis points. Other real

estate loan net charge-offs declined annually, down two

basis points to 0.10%. Iowa’s net charge-off rates for

both categories of real estate loans are comparable to

the national averages.

While the credit card delinquency rate for Iowa credit

unions increased by 13 basis points to 1.01%, the rate

remains below the national average, which stood at

1.04% as of September 2016. Iowa credit unions

charged off 1.39% of their credit card loans in the third

quarter, a one basis point increase annually.

As of September 2016, credit unions in Iowa have

written off a slightly lower percentage of their total loans

than in prior years. Their annualized net charge-off rate

is 32 basis points, down two basis points from the

0.34% reported in September 2015. Moreover, the net

charge-off rate of 32 basis points for Iowa is lower than

the national average, which stood at 53 basis points as

of September 2016.

In addition to the differences in delinquency and charge-

off rates seen when comparing Iowa to the national

averages, there is also variety within the state of Iowa

based on institution size. Net charge-offs by asset tier

fall within a range of a low of 27 basis points for credit

unions with assets between $20 million and $100

million and a high of 32 basis points for credit unions

with assets over $100 million. Notably, Iowa credit

unions over $100 million in assets reported a three

basis point decline in the net charge-off ratio, with most

major loan categories posting a decline in net charge-

offs.

However, an opposite trend is found in the delinquency

rates, with the largest credit unions in the state reporting

a delinquency ratio of 0.67% in comparison to the

smaller credit unions’ delinquency ratio of 1.16%. Iowa

credit unions between $20 million and $100 million

reported a delinquency rate of 0.97% at the end of the

third quarter. This group saw a six basis point increase in

the delinquency ratio from September 2015, while credit

unions over $100 million in assets held steady. Credit

unions under $20 million reported their delinquency rate

decreased seven basis points from the 1.23% reported

in September 2015.



IA CUs

Under $20M

IA CUs

$20M-$100M

IA CUs

Over $100M All IA CUs All U.S. CUs

2016

Delinquency Ratio 1.16% 0.97% 0.67% 0.70% 0.77%

1st Mortgage Delinquency 0.63% 0.82% 0.56% 0.57% 0.63%

Other RE Delinquency 0.17% 1.00% 0.36% 0.40% 0.62%

Credit Card Delinquency 0.33% 1.66% 0.99% 1.01% 1.04%

MBL Delinquency 0.00% 0.70% 0.32% 0.32% 1.60%

Auto Delinquency 1.38% 0.98% 0.85% 0.88% 0.63%

Net Charge-Off Ratio 0.31% 0.27% 0.32% 0.32% 0.53%

1st Mortgage Charge-Offs 0.00% 0.03% 0.02% 0.02% 0.04%

Other RE Charge-Offs 0.40% 0.02% 0.10% 0.10% 0.08%

Credit Card Charge-Offs 0.34% 0.88% 1.42% 1.39% 2.12%

MBL Charge-Offs 0.00% 0.00% 0.01% 0.01% 0.61%

Auto Charge-Offs 0.25% 0.34% 0.50% 0.48% 0.56%

2015





MBL Delinquency 0.00% 0.83% 0.56% 0.56% 1.13%






MBL Charge-Offs 0.00% 0.00% -0.01% -0.01% 0.12%

Auto Charge-Offs 0.17% 0.30% 0.56% 0.52% 0.49%

2014





MBL Delinquency 0.00% 1.43% 0.62% 0.63% 1.07%






MBL Charge-Offs 0.00% 0.00% 0.41% 0.40% 0.20%

Auto Charge-Offs 0.32% 0.24% 0.47% 0.44% 0.46%

ASSET QUALITY COMPARISONS | DATA AS OF SEPTEMBER 30, 2016



IOWA SHARE GROWTH TOPS NATIONAL

AVERAGE

Share balances in Iowa grew 10.0% over the past 12

months, exceeding the 8.6% growth seen nationally. As

of September 2016, total shares at Iowa credit unions

rose to nearly $12.7 billion, with every share component

expanding year-over-year.

Share drafts, comprising 14.2% of Iowa credit unions’

total share portfolio, posted the fastest growth, rising

13.4% year-over-year to over $1.8 billion as of

September 2016. This represents an increase of $213.8

million in share draft balances over the previous

September. Meanwhile, credit unions nationwide saw

balances held in share draft accounts increase by 17.0%

from a year ago. Share draft growth is a very important

measure of credit union health, as the financial

institution where a member has their checking, or share

draft, account, tends to be where they conduct the

majority of their financial transactions.

In Iowa, regular shares and deposits balances, which are

the largest component of the share portfolio,

experienced the second fastest growth, increasing

11.8% from September 2015. Regular shares and

deposits balances now total over $4.1 billion.

Share certificates, the second largest component of the

share portfolio, also posted double-digit growth.

Balances in these accounts grew 10.1% to top $3.6

billion. IRA and Keogh balances, making up just 5.9% of

Iowa’s share portfolio, are up 8.8% year-over-year to

over $744.5 million as of September 2016.

Money market shares rose 5.0% from a year ago as

members continue to seek returns on their deposits

while maintaining liquidity.

Cash and investment balances at Iowa credit unions

declined slightly, falling 1.7% from the previous

September. The largest dollar amount decrease was

from investments in banks and savings and loans,

posting a year-over-year decline of $118.4 million — or

18.0% — to $539.2 million. The largest dollar increase

was in cash at other financial institutions (primarily Fed

balances), expanding $100.9 million — or 19.1% — from

September 2015 to $628.5 million. This indicates that

credit unions may be wanting to hold their investments

in cash due to potential rate hikes expected in the near

future.

Credit unions in Iowa also saw their investment

maturities shorten over the past twelve months. At the

end of September 2016, 46.1% of the Iowa credit union

investment portfolio is in holdings with maturities of less

than one year, up from 41.5% in September 2015. The

largest decline in the portfolio was seen in investments

with maturities of three to five years, this segment

decreased 25.8%, or $136.3 million, to $392.0 million

as of September 2016.



GROWTH IN THE LOAN PORTFOLIO

INCREASES INTEREST INCOME BY 9.6%

Credit unions nationwide saw total revenue increase

8.4% from the first nine months of 2015. Revenue for

the first nine months of 2016 at Iowa credit unions is

up 9.4% to $538.2 million, as increased loan income

and non-interest income offset a slight decline in

investment income.

Interest Income

Nationally, total interest income at credit unions

increased 8.8% compared to the same period in 2015,

with loan income rising 8.6% while investment income

grew 9.7%. In Iowa, total interest income increased

9.6% in the first nine months of 2016. Year-over-year,

average loan yields fell from 4.55% in September 2015

to 4.44% in September 2016. The strong 14.4% rise in

loan balances was enough to overcome the decline in

yields, and loan interest income increased 10.7% year-

over–year to $365.3 million at the end of September

2016. On the investments side, Iowa credit unions saw

their average yield stay nearly flat, decreasing one

basis point to 1.50% between September 2015 and

September 2016. A slightly smaller investment

portfolio led to the 2.2% decline in interest income

from investments.

Non-Interest Income

As of September 30, the nation’s credit unions saw

their non-interest income expand 8.1%. In Iowa, non-

interest income grew at a slightly slower pace as credit

unions in the state reported a 7.5% increase in total

non-interest income. Non-interest income totaled

$142.4 million through September 30. Today, the

industry as a whole derives 29.1% of its income from

non-interest sources, while credit unions in Iowa derive

a slightly lower percentage — 26.5% in September

2016, down from 26.9% reported last year.

Both fee and other operating income in Iowa posted

growth during the period, increasing 2.3% and 15.7%,

respectively. The growth in other operating income is

largely attributed to sustained secondary market

activity.

Operating Expenses

Excluding stabilization expenses, operating expenses

for Iowa’s credit unions rose 11.1% in the first nine

months of 2016, compared to the national average,

which increased 7.2%.

Personnel compensation and benefits was the largest

contributor to the increase in operating expenses in

Iowa. Over the past twelve months, the number of Iowa

credit union employees increased 7.0%, while

compensation grew 12.7% year-over-year. Today,

employee compensation and benefits expenses

comprise 52.4% of the total operating expenses at

Iowa credit unions. Expenses related to education and

promotion posted the second largest dollar increase,

expanding by $4.2 million – or 28.8% – to $18.9

million at the end of the third quarter.

Net Worth

As of September 30, the aggregate net worth ratio for

Iowa credit unions was 10.5%, down 17 basis points

from September 2015. Overall net worth increased

9.4% to nearly $1.6 billion. The 11.1% growth in assets

versus 9.4% for net worth contributed to the decline in

the ratio. Despite the decline, credit unions in Iowa

remain significantly above the 7% threshold set by the

NCUA.



AVERAGE MEMBER RELATIONSHIP TOPS

$20,000

Total membership at Iowa credit unions reached nearly

1.1 million members as of September 2016 with the

addition of 27,927 members in the past twelve months.

Iowa credit unions’ year-over-year membership growth

of 2.6% is slower than the 4.0% growth reported by

credit unions nationwide. However, Iowa credit unions

are beating the nation with their proven track record in

member relationships.

Iowa credit unions are developing stronger relationships

with members through their products compared with

their national credit union peers. For example, all major

product penetration rates for Iowa beat the national

average as of September 2016. Over the past year,

auto penetration had the fastest growth among all prod-

uct categories, increasing 1.8 percentage points to

28.0% as of September 2016, compared with the na-

tional average of 19.2%. Share draft penetration rose

by 1.2 percentage points to 57.0%, higher than the

national average of 55.9%. Credit card penetration at

Iowa credit unions increased 1.2 percentage points

over the last twelve months to 19.2%, and remained

above the national average of 17.2%. Real estate pene-

tration was also up 42 basis points to 8.7%, nearly dou-

ble the national average of 4.4% (This metric only re-

flects loans on the balance sheet and does not reflect

loans sold on the secondary market).

With rising loan and share balances, the average mem-

ber relationship at Iowa credit unions is also increasing,

breaking $20,000 this quarter. This metric, represent-

ing the total dollar amount of loan balances (excluding

member business loans) and deposits per member,

increased 8.1% over the previous September to reach

$20,375. This tops the national average by $2,870 as

of September 2016.

SPECIAL SECTION: MORTGAGE LENDING

Market Overview

Despite continued discussion and anticipation sur-

rounding the Federal Reserve’s further rate increases,

mortgage rates have largely remained low, only slightly

above the bottom seen in 2012. As a result, the mort-

gage lending market has seen a resurgence in the first

nine months of 2016, as buyers continue to show inter-

est in both purchase and refinance mortgages.

HMDA Insights - National

According to the most recent data set from the Home

Mortgage Disclosure Act (HMDA) for the 2015 calendar

year, we are able to look at highly specific mortgage

lending information throughout the United States. In

2015, nearly 7,000 lending institutions reported more

than 14.4 million HMDA loan records. Among these,

2,000 credit unions and CUSOs reported mortgage

data, making the HMDA data set the most extensive

repository of cooperative lending activity within the

housing market.

In aggregate, the United States first mortgage origina-

tion market grew significantly in 2015, with total origi-

nations of first mortgages (including purchase and

refinancings) expanding 33.3% year-over-year to $1.8

trillion. On a national level, credit unions were able to

maintain their market share of 6.1% in 2015, despite

significant competition from non-bank lenders. The

credit union industry increased originations 34.0% to

$113.0 billion, while traditional banks expanded

26.0% to $939.9 billion.

Nationally, purchase mortgages accounted for 51.5%

of first mortgages originated in 2015, down from the

57.7% share in the same period a year ago. According-

ly, refinancings’ share of the origination market in-

creased, growing from 39.2% in 2014 to 45.1% in

2015.

As of December 2015, the average loan balance for

credit unions was $162 thousand, an annual increase

of 9.5% from the prior year.



HMDA Insights - Iowa

Many of the national origination trends were also seen in

Iowa, as total first mortgage originations grew 28.9% in the

state between 2014 and 2015. All major lending groups

(credit unions, banks, and mortgage finance companies)

in Iowa saw their originations increase substantially from

2014 to 2015.

Mortgage finance companies recorded the strongest origi-

nation gains in the state, increasing their originations

42.0% year-over-year while increasing their market share 2

percentage points. Iowa credit unions also reported strong

growth over the period, expanding originations 24.0% but

saw a 0.7% decline in market share due to increased com-

petition throughout the state, specifically from non-bank

lenders.

However, Iowa credit unions continue to have notable suc-

cess in penetrating specific locales and achieving sizable

market share. When looking at the top ten metropolitan

statistical areas (MSAs) across the country, ranked by

credit union market share, three of the top ten were MSAs

in the state of Iowa.

Despite the increasingly competitive and regulated nature

of the mortgage market, Iowa credit unions continue to

find success in serving members throughout their served

markets and are well positioned for future growth.

2015 1st Mort. Lending in Iowa - Quick Facts

Originations Mkt. Share Avg. Bal. % ∆

Credit Unions $2.0B 16.9% $106K 24.0%

Banks $7.4B 61.1% $156K 26.2%

Mort. Finance $2.6B 22.0% $153K 42.0%

2015 Top 10 MSAs by Credit Union Market Share

Total Orig. CU Orig.

CU Mkt.

Share

Waterloo-Cedar Falls, IA $753M $337M 44.7%

La Crosse, WI-MN $634M $237M 37.4%

Pocatello, ID $300M $110M 36.8%

Cumberland, MD-WV $154M $55M 35.6%

Utica-Rome, NY $474M $168M 35.3%

Cedar Rapids, IA $1,228M $427M 34.7%

Iowa City, IA $1,001M $344M 34.4%

Burlington, VT $1,336M $442M 33.0%

Appleton, WI $1,127M $371M 32.9%

Saginaw Township. MI $393M $126M 31.9%



CONSOLIDATED U.S. CREDIT UNION FINANCIAL STATEMENT | DATA AS OF SEPTEMBER 30, 2016 (THOUSANDS OF DOLLARS)

ALL U.S.

September 2015 September 2016 % Chg

9 Months Ended

September 2015

9 Months Ended

September 2016 % Chg

Assets: Income:

Cash & Equivalents 89,708,441 111,024,245 23.76% Loans 26,135,360 28,376,487 8.58%

Govt & Agencies 187,154,498 181,117,037 -3.23% (Less Rebates) (15,630) (14,841) -5.05%

Corporate Credit Union 2,976,966 2,918,046 -1.98% Investments 3,300,153 3,620,608 9.71%

Banks and S&Ls 41,567,918 39,834,617 -4.17% Fee Income 5,623,395 5,891,318 4.76%

Mutual Funds 2,106,494 1,962,133 -6.85% Trading & Other Operating 6,059,593 6,665,498 10.00%

All Other Inv & Ins 39,689,192 43,896,009 10.60% Total Income 41,102,870 44,539,069 8.36%

Total Investments, Cash & Cash Eq. 363,203,510 380,752,088 4.83%

Expenses:

Real Estate Loans 394,479,944 426,801,689 8.19% Employee Compensation and Benefits 13,784,550 14,837,805 7.64%

Auto Loans 257,923,885 293,208,610 13.68% Travel & Conference 271,610 285,038 4.94%

All Other Loans 126,324,713 137,299,568 8.69% Office Occupancy 1,889,347 1,949,927 3.21%

Total Loans 778,728,541 857,309,867 10.09% Office Operations 5,079,131 5,442,751 7.16%

Education & Promotional 1,011,427 1,072,659 6.05%

(Loan Loss Allow) (7,207,156) (7,701,297) 6.86% Loan Servicing 2,036,905 2,062,424 1.25%

Professional Services 2,130,328 2,334,414 9.58%

Repossessed Property 1,011,906 886,390 -12.40% Member Insurance 16,736 14,398 -13.97%

Land & Buildings 19,692,196 20,824,650 5.75% Operating Fees 110,463 113,111 2.40%

Other Fixed Assets 4,092,509 4,473,620 9.31% Miscellaneous 911,710 1,077,557 18.19%

All Other Assets 35,421,360 36,724,186 3.68% Operating Expense Subtotal 27,242,207 29,190,083 7.15%

Total Assets 1,194,942,866 1,293,269,503 8.23%

Prov/Loan Loss 2,745,791 3,580,361 30.39%

Liabilities & Capital: Operating Expense + PLL 29,987,998 32,770,445 9.28%

Dividends Payable 187,020 194,449 3.97%

Notes Payable 45,630,632 46,934,467 2.86% Non-Operating Gain (Loss) 304,524 422,868 38.86%

Reverse Repurchase Agreements 1,921,241 1,282,428 -33.25% Income before Dividends 11,419,397 12,191,492 6.76%

Other Liabilities 12,443,860 14,033,767 12.78%

Total Liabilities 60,182,754 62,445,111 3.76% Cost Of Funds:

Interest on Borrowed Funds 587,216 668,417 13.83%

Regular Shares & Deposits 365,724,263 401,364,841 9.75% Dividends 3,859,592 4,173,538 8.13%

Money Market Shares 230,643,766 247,057,365 7.12% Net Income Prior to Stabilization 6,972,589 7,349,538 5.41%

Share Drafts 140,193,710 164,040,437 17.01%

IRA & Keogh 77,422,609 79,158,731 2.24% Net NCUA Assessment Expenses 5,063 2,580 -49.04%

Share Certificates 191,225,167 200,255,157 4.72% Net Income 6,967,526 7,346,957 5.45%

Total Shares 1,005,209,514 1,091,876,531 8.62%

% Chg

Regular Reserve 20,389,955 20,970,060 2.85% Total Number of Credit Unions 6,216 5,967 -4.01%

FASB 115 Valuation Reserve (1,627,518) (1,192,704) -26.72% # of FCU's 3,814 3,648 -4.35%

Undivided Earnings & Other Reserves 108,538,069 116,567,136 7.40% # of SCU's - Federally Insured 2,276 2,196 -3.51%

Equity Acquired in Merger 2,250,092 2,603,370 15.70% # of SCU's - Cooperatively Insured 126 123 -2.38%

Total Reserves & Undivided Earnings 129,550,598 138,947,861 7.25% Members 103,429,160 107,534,738 3.97%

Total Liabilities & Capital 1,194,942,866 1,293,269,503 8.23% Employees 268,401 280,903 4.66%

Average Share Balance 9,658 10,074 4.31%

Average Loan Balance 13,549 14,143 4.38%



U.S. CREDIT UNION PEER GROUP PERFORMANCE | ALL U.S. CREDIT UNIONS AS OF SEPTEMBER 30, 2016

*For CUs under $20M, only those with at least one respective account are included in the calculation.

** Excludes stabilization expenses

ALL U.S.

U.S.

Totals

Under

$20M

$20M-

$50M

$50M-

$100M

$100M-

$250M

$250M-

$500M

$500M-

$1B Over $1B

# of CUs 5,967 2,526 1,114 742 734 343 237 271

Average Asset Size (000s) $216,737 $7,412 $32,204 $71,229 $158,200 $358,161 $705,915 $2,876,569

12-MONTH GROWTH

Net Worth Growth 6.81% 0.92% 2.81% 3.91% 5.27% 6.13% 7.02% 9.22%

Loan Growth 10.09% 2.32% 4.20% 5.79% 7.02% 9.52% 10.71% 11.66%

Share Growth 8.62% 2.62% 4.66% 5.56% 6.47% 7.81% 8.86% 10.48%

Member Growth 3.97% -1.23% -0.36% 0.96% 1.65% 2.73% 4.47% 6.74%

CAPITAL

Net Worth/Assets 10.85% 13.98% 12.01% 11.44% 10.85% 10.95% 10.85% 10.67%

Solvency Ratio 116.08% 116.89% 114.15% 113.59% 113.18% 114.05% 114.70% 117.43%

Allow. For Loan Losses/Del. Loans 116.17% 74.39% 76.49% 81.43% 94.43% 105.34% 120.03% 127.11%

Delinquency Ratio 0.77% 1.49% 1.17% 1.01% 0.91% 0.79% 0.73% 0.72%

EARNINGS

ROA 0.78% 0.21% 0.29% 0.42% 0.50% 0.60% 0.63% 0.95%

Non-Interest Income/Ave. Assets 1.38% 0.83% 1.07% 1.28% 1.42% 1.53% 1.51% 1.35%

Net Interest Margin 2.89% 3.16% 2.97% 3.07% 3.09% 3.03% 3.01% 2.78%

Operating Expenses/Ave. Assets** 3.10% 3.56% 3.51% 3.68% 3.69% 3.62% 3.50% 2.78%

Yield on Average Earning Assets 3.56% 3.56% 3.42% 3.57% 3.65% 3.64% 3.62% 3.53%

Cost Of Funds 0.58% 0.34% 0.35% 0.35% 0.40% 0.45% 0.47% 0.69%

PRODUCTIVITY

YTD Income per Employee (000s) $159 $58 $107 $118 $123 $133 $144 $194

YTD Income per Member $414 $191 $263 $307 $352 $380 $421 $467

YTD Operating Exp. per Member $271 $161 $213 $243 $269 $280 $300 $276

Assets per Employee (000s) $4,604 $1,845 $3,357 $3,438 $3,465 $3,705 $4,037 $5,708

YTD Loan Originations ($) per Empl. (000s) $1,223 $348 $577 $634 $720 $843 $1,026 $1,681

MEMBER SERVICE USAGE

Auto Loan Penetration* 19.18% 13.80% 15.37% 16.58% 18.02% 18.53% 20.37% 20.13%

Share Draft Penetration* 55.87% 32.27% 40.22% 46.92% 50.79% 55.04% 57.42% 60.58%

Credit Card Penetration* 17.20% 12.94% 10.51% 12.17% 13.12% 15.02% 16.08% 20.45%

$ Average Share Balance $10,074 $5,153 $7,127 $7,803 $8,616 $9,094 $10,009 $11,322

# of Share & Loan Accts per Member 2.45 1.81 2.11 2.24 2.31 2.40 2.45 2.57

LENDING PROFILE

Loans to Shares 78.52% 56.21% 57.88% 63.38% 70.85% 74.83% 80.07% 82.62%

% of RE Loans to Total Loans 49.78% 19.21% 35.69% 40.27% 44.76% 46.62% 46.76% 53.10%

$ Average Loan Balance $14,143 $7,309 $9,095 $9,894 $12,011 $12,730 $14,404 $15,623

Total Loans per Employee (000s) $3,052 $887 $1,698 $1,907 $2,151 $2,396 $2,770 $3,914



CONSOLIDATED IOWA CREDIT UNION FINANCIAL STATEMENT | DATA AS OF SEPTEMBER 30, 2016

IOWA

September 2015 September 2016 % Chg

9 Months Ended

September 2015

9 Months Ended

September 2016 % Chg

Assets: Income:

Cash & Equivalents 638,330,115 746,685,539 16.97% Loans 329,986,680 365,302,891 10.70%

Govt & Agencies 957,822,428 835,076,038 -12.82% (Less Rebates) 0 0 N/A

Corporate Credit Union 6,321,052 6,707,789 6.12% Investments 30,846,745 30,166,433 -2.21%

Banks and S&Ls 657,590,405 539,190,499 -18.01% Fee Income 65,708,306 67,224,604 2.31%

Mutual Funds 104,652,475 111,536,023 6.58% Trading & Other Operating 65,243,077 75,494,987 15.71%

All Other Inv & Ins 494,179,536 571,255,817 15.60% Total Income 491,784,808 538,188,915 9.44%

Total Investments, Cash & Cash Eq. 2,858,896,011 2,810,451,705 -1.69%

Expenses:

Real Estate Loans 5,548,051,832 6,289,693,055 13.37% Employee Compensation and Benefits 149,833,212 168,835,397 12.68%

Auto Loans 3,495,879,342 4,055,479,735 16.01% Travel & Conference 3,213,176 3,342,723 4.03%

All Other Loans 1,088,451,535 1,245,710,883 14.45% Office Occupancy 19,674,070 20,696,636 5.20%

Total Loans 10,132,382,709 11,590,883,673 14.39% Office Operations 44,140,975 47,573,371 7.78%

Education & Promotional 14,684,201 18,916,820 28.82%

(Loan Loss Allow) (76,707,359) (79,694,103) 3.89% Loan Servicing 23,996,845 27,213,952 13.41%

Professional Services 27,746,419 28,543,122 2.87%

Repossessed Property 13,893,192 12,962,870 -6.70% Member Insurance 152,442 120,340 -21.06%

Land & Buildings 250,403,839 269,724,443 7.72% Operating Fees 1,209,993 1,268,523 4.84%

Other Fixed Assets 43,436,904 52,189,826 20.15% Miscellaneous 5,335,266 5,671,375 6.30%

All Other Assets 472,451,276 561,853,404 18.92% Operating Expense Subtotal 289,986,599 322,182,259 11.10%

Total Assets 13,694,756,572 15,218,371,818 11.13%

Prov/Loan Loss 26,094,765 28,686,655 9.93%

Liabilities & Capital: Operating Expense + PLL 316,081,364 350,868,914 11.01%

Dividends Payable 6,508,149 7,619,595 17.08%

Notes Payable 600,507,180 774,742,452 29.01% Non-Operating Gain (Loss) 1,476,248 (294,454) -119.95%

Reverse Repurchase Agreements 0 0 N/A Income before Dividends 177,179,692 187,025,547 5.56%

Other Liabilities 106,102,812 151,773,486 43.04%

Total Liabilities 713,118,141 934,135,533 30.99% Cost Of Funds:

Interest on Borrowed Funds 5,528,602 6,274,160 13.49%

Regular Shares & Deposits 3,680,541,188 4,114,317,375 11.79% Dividends 63,647,073 75,814,182 19.12%

Money Market Shares 2,263,841,813 2,375,802,769 4.95% Net Income Prior to Stabilization 108,004,017 104,937,205 -2.84%

Share Drafts 1,591,547,660 1,805,313,685 13.43%

IRA & Keogh 684,267,051 744,495,964 8.80% Net NCUA Assessment Expenses 167,389 605 -99.64%

Share Certificates 3,309,824,003 3,643,297,425 10.08% Net Income 107,836,628 104,936,600 -2.69%

Total Shares 11,530,021,715 12,683,227,218 10.00%

% Chg

Regular Reserve 417,381,887 464,958,766 11.40% Total Number of Credit Unions 100 95 -5.00%

FASB 115 Valuation Reserve (687,011) 11,164,400 N/A # of FCU's 1 1 0.00%

Undivided Earnings & Other Reserves 1,011,383,295 1,097,399,999 8.50% # of SCU's - Federally Insured 99 94 -5.05%

Equity Acquired in Merger 23,538,545 27,485,902 16.77% # of SCU's - Cooperatively Insured 0 0 N/A

Total Reserves & Undivided Earnings 1,451,616,716 1,601,009,067 10.29% Members 1,068,345 1,096,272 2.61%

Total Liabilities & Capital 13,694,756,572 15,218,371,818 11.13% Employees 3,243 3,470 7.00%

YTD Loan Originations 4,515,469,065 5,431,524,636 20.29%

Average Share Balance 10,792 11,569 7.20%

Average Loan Balance 14,532 15,448 6.30%



IOWA CREDIT UNION PEER GROUP PERFORMANCE | ALL IOWA CREDIT UNIONS AS OF SEPTEMBER 30, 2016

*For CUs under $20M, only those with at least one respective account are included in the calculation.

** Excludes stabilization expenses

IOWA

Iowa Totals

Under

$20M

$20M-

$100M Over $100M

# of CUs 95 43 33 19

Average Asset Size (000s) $160,193 $6,626 $45,138 $706,877

12-MONTH GROWTH

Net Worth Growth 9.38% -0.40% 7.15% 10.55%

Loan Growth 14.39% 4.06% 7.75% 15.43%

Share Growth 10.00% -1.73% 5.59% 11.41%

Member Growth 2.61% -4.90% 2.98% 3.87%

CAPITAL

Net Worth/Assets 10.47% 13.94% 12.80% 10.14%

Solvency Ratio 114.75% 117.01% 115.46% 114.62%

Allow. For Loan Losses/Del. Loans 98.32% 119.25% 69.78% 101.24%

Delinquency Ratio 0.70% 1.16% 0.97% 0.67%

EARNINGS

ROA 0.95% 0.45% 0.72% 0.99%

Non-Interest Income/Ave. Assets 1.29% 0.93% 1.21% 1.31%

Net Interest Margin 2.85% 2.99% 3.02% 2.82%

Operating Expenses/Ave. Assets** 2.93% 3.33% 3.34% 2.87%

Yield on Average Earning Assets 3.79% 3.48% 3.59% 3.82%

Cost Of Funds 0.84% 0.36% 0.41% 0.90%

PRODUCTIVITY

YTD Income per Employee (000s) $155 $62 $120 $165

YTD Income per Member $491 $185 $286 $549

YTD Operating Exp. per Member $294 $148 $208 $319

Assets per Employee (000s) $4,386 $1,953 $3,568 $4,625

YTD Loan Originations ($) per Empl. (000s) $1,565 $452 $842 $1,726

MEMBER SERVICE USAGE

Auto Loan Penetration* 27.98% 18.39% 21.06% 29.92%

Share Draft Penetration* 56.98% 36.70% 43.62% 61.30%

Credit Card Penetration* 19.18% 11.80% 7.09% 22.43%

$ Average Share Balance $11,569 $4,995 $7,262 $12,804

# of Share & Loan Accts per Member 2.67 1.83 2.19 2.81

LENDING PROFILE

Loans to Shares 91.39% 62.03% 68.50% 94.66%

% of RE Loans to Total Loans 54.26% 20.07% 36.45% 56.22%

$ Average Loan Balance $15,448 $8,002 $10,866 $16,235

Total Loans per Employee (000s) $3,340 $1,038 $2,098 $3,635



12-MONTH SHARE GROWTH NET WORTH/ASSETS

Credit Union Share Growth* Shares Credit Union Net Worth/Assets Assets

1 Town And Country 14.90% $17,654,681 1 Webster City Municipal 33.51% $464,474

2 Burlington Municipal Employees 14.31% $4,817,556 2 Morrison Employees 32.52% $1,552,221

3 The Hub-co 11.01% $16,176,616 3 St. Ludmilas 29.94% $364,981

4 Davenport Police Department 10.71% $3,691,037 4 KAH 29.53% $1,770,902

5 Du Pont Employees 9.10% $2,975,704 5 Gas & Electric Employees 29.45% $5,515,672

6 Polk County 8.31% $4,536,383 6 NGPL Employees 25.42% $3,092,877

7 ETS 8.29% $2,279,951 7 Hometown 23.74% $2,589,991

8 MA Ford Employees 8.12% $1,459,081 8 Warren 23.62% $4,312,249

9 The Municipal 6.91% $14,887,416 9 Chicago Central and Commerce 21.70% $6,630,969

10 Warren 6.68% $3,271,604 10 SECU 20.62% $2,250,130

12-MONTH LOAN GROWTH RETURN ON ASSETS

Credit Union Loan Growth* Loans Credit Union ROA Assets

1 NGPL Employees 27.09% $374,912 1 Hometown 2.23% $2,589,991

2 Aegis 20.98% $12,353,702 2 Gas & Electric Employees 1.37% $5,515,672

3 Village 15.97% $8,462,981 3 ETS 1.22% $2,683,709

4 Town And Country 15.80% $17,588,966 4 Polk County 1.20% $5,364,755

5 The Hub-co 15.41% $7,367,380 5 Village 0.99% $11,981,983

6 Des Moines County Postal 15.06% $1,603,166 6 Webster City Municipal 0.98% $464,474

7 Du Pont Employees 14.47% $2,449,060 7 Bent River Community 0.97% $19,872,938

8 Des Moines Fire Department 14.35% $3,628,099 8 KAH 0.89% $1,770,902

9 The Municipal 10.63% $7,363,770 9 Leeco 0.87% $3,834,135

10 Burlington Municipal Employees 10.15% $3,284,897 10 Burlington Municipal Employees 0.80% $5,342,010

12-MONTH MEMBER GROWTH LOANS/SHARES

Credit Union Member Growth* Members Credit Union Loans/Shares Assets

1 Du Pont Employees 2.74% 488 1 St. Athanasius 112.87% $694,909

2 River Community 2.60% 3,473 2 Aegis 108.03% $13,211,126

3 Consumers 2.26% 1,403 3 Muni Employees 104.48% $703,231

4 North Western Employees 1.98% 1,183 4 Town And Country 99.63% $19,956,238

5 Quaker Oats 1.63% 1,807 5 St. Ludmilas 99.17% $364,981

6 Aegis 1.53% 3,450 6 Waterloo Firemen's 93.20% $1,879,695

7 The Hub-co 1.49% 3,134 7 Hometown 92.78% $2,589,991

8 Dubuque Postal Employees 1.39% 291 8 Des Moines Fire Department 90.56% $4,853,151

9 SECU 0.93% 757 9 Allen Hospital Personnel 88.69% $5,595,360

10 Davenport Police Department 0.87% 348 10 Quaker Oats 86.72% $8,486,465

IOWA CREDIT UNION LEADERS | ALL IOWA CUS UNDER $20 MILLION IN ASSETS AS OF SEPTEMBER 30, 2016

*Note: For growth tables, credit unions that have had a substantial merger in the previous 12 months are excluded. A substantial merger is a merger where

the assets of the acquired credit union are more than 10% of the assets of the acquiring credit union.

UNDER $20 MILLION





1 5 Star Community 11.62% $26,744,403 1 Employees 20.17% $88,985,474

2 Midwest Community 11.54% $26,436,513 2 Iowa Heartland 18.04% $23,682,202

3 Cent 10.24% $35,354,590 3 Cent 16.66% $42,625,177

4 Metco 9.57% $26,707,762 4 Power Co-op Employees 16.42% $31,565,398

5 Advantage 9.45% $55,041,183 5 Advantage 15.54% $66,061,798

6 Tradesmen Community 9.25% $43,517,399 6 Casebine Community 15.49% $33,337,422

7 Fort Dodge Family 8.22% $24,821,020 7 Capitol View 15.21% $33,338,634

8 First Class 7.22% $65,607,644 8 Sioux Valley Community 15.13% $28,052,158

9 Uni 7.08% $17,644,192 9 Des Moines Police Officers 14.95% $53,292,586

10 Cornerstone Community 6.98% $19,894,308 10 Public Employees 14.71% $26,959,612



1 Holy Ghost Parish 37.78% $354,646 1 Employees 2.18% $88,985,474

2 Cent 21.67% $32,597,907 2 Power Co-op Employees 1.93% $31,565,398

3 Lennox Employees 19.81% $21,284,736 3 Affinity 1.57% $92,057,056

4 Telco-Triad Community 18.95% $52,365,709 4 N. W. Iowa 1.11% $44,892,449

5 IntegrUS 15.55% $19,423,801 5 Des Moines Police Officers 1.07% $53,292,586

6 Des Moines Police Officers 13.55% $37,095,327 6 Tradesmen Community 1.05% $50,947,817

7 Fort Dodge Family 11.78% $14,241,004 7 Cent 1.00% $42,625,177

8 Affinity 11.75% $76,961,889 8 Advantage 1.00% $66,061,798

9 Cornerstone Community 11.68% $13,724,440 9 Capitol View 0.74% $33,338,634

10 N. W. Iowa 10.99% $28,439,455 10 Members Community 0.71% $55,791,572



1 IntegrUS 16.50% 2,189 1 IntegrUS 101.68% $22,698,706

2 Cent 8.28% 4,683 2 North Iowa Community 97.16% $63,734,883

3 N. W. Iowa 7.08% 4,794 3 Affinity 95.17% $92,057,056

4 Cornerstone Community 6.24% 5,906 4 Cent 92.20% $42,625,177

5 North Iowa Community 4.88% 11,469 5 Des Moines Police Officers 84.69% $53,292,586

6 Sioux Valley Community 4.57% 2,839 6 Members Community 84.67% $55,791,572

7 Fort Dodge Family 3.07% 3,089 7 Midland 79.85% $48,197,090

8 Employees 2.70% 7,607 8 Capitol View 77.89% $33,338,634

9 Des Moines Police Officers 2.58% 3,702 9 5 Star Community 76.71% $29,812,100

10 Midland 2.55% 4,258 10 Metco 72.69% $30,385,922

IOWA CREDIT UNION LEADERS | ALL IOWA CUS BETWEEN $20 MILLION AND $100 MILLION IN ASSETS AS OF SEPTEMBER 30, 2016



BETWEEN $20 MILLION AND $100 MILLION





1 Collins Community 21.55% $861,164,025 1 Cedar Falls Community 15.05% $107,386,743

2 Premier 19.94% $149,300,466 2 Dupaco Community 14.31% $1,471,982,707

3 University Of Iowa Community 16.26% $2,900,878,978 3 Citizens Community 14.15% $190,736,861

4 Linn Area 11.01% $304,979,973 4 The Family 12.76% $148,341,709

5 Ascentra 10.93% $310,092,755 5 DuTrac Community 12.06% $642,904,227

6 Veridian 10.59% $2,672,865,146 6 Alliant 11.03% $115,338,969

7 Dupaco Community 10.29% $1,194,876,415 7 Financial Plus 10.95% $168,431,011

8 Cedar Falls Community 9.23% $91,453,434 8 First 10.78% $114,891,351

9 Greater Iowa 9.18% $334,741,807 9 1st Gateway 10.43% $129,299,905

10 Alliant 8.90% $101,735,443 10 Veridian 10.34% $3,023,224,412



1 Collins Community 21.06% $789,600,173 1 First 1.54% $114,891,351

2 University Of Iowa Community 20.65% $3,355,810,416 2 University Of Iowa Community 1.54% $3,707,410,877

3 Premier 20.60% $130,149,264 3 Cedar Falls Community 1.53% $107,386,743

4 Members1st Community 19.42% $82,664,052 4 Premier 1.32% $169,757,709

5 Linn Area 18.62% $319,866,519 5 Dupaco Community 1.20% $1,471,982,707

6 Greater Iowa 17.52% $304,609,670 6 1st Gateway 1.16% $129,299,905

7 Veridian 17.27% $2,426,388,749 7 Citizens Community 0.94% $190,736,861

8 Dupaco Community 12.85% $887,155,780 8 Alliant 0.84% $115,338,969

9 Cedar Falls Community 11.60% $75,243,981 9 The Family 0.81% $148,341,709

10 DuTrac Community 11.45% $448,143,561 10 Veridian 0.76% $3,023,224,412



1 University Of Iowa Community 7.38% 146,218 1 University Of Iowa Community 115.68% $3,707,410,877

2 Dupaco Community 6.43% 94,538 2 First 114.36% $114,891,351

3 Premier 6.12% 16,262 3 Linn Area 104.88% $403,982,981

4 Veridian 4.81% 202,568 4 1st Gateway 100.12% $129,299,905

5 Ascentra 4.68% 36,838 5 Community 1st 99.77% $579,249,024

6 Community 1st 4.59% 56,647 6 Ascentra 92.64% $389,506,494

7 Alliant 4.36% 10,677 7 Collins Community 91.69% $1,066,257,158

8 Collins Community 4.31% 70,673 8 Greater Iowa 91.00% $395,067,782

9 Community Choice 3.02% 45,534 9 Veridian 90.78% $3,023,224,412

10 Cedar Falls Community 2.58% 8,221 10 Citizens Community 89.13% $190,736,861

OVER $100 MILLION



IOWA CREDIT UNION LEADERS | ALL IOWA CUS OVER $100 MILLION IN ASSETS AS OF SEPTEMBER 30, 2016

Documents

3Q 2016 - Iowa Credit Union League · 2016-12-21 · 3Q 2016 QUARTERLY PERFORMANCE SUMMARY 3 KEY PERFORMANCE COMPARISONS | AS OF SEPTEMBER 30, 2016 AS A % OF AVERAGE ASSETS U.S. CUs