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Articles by Sam Taft
A FULL HOUSE: Mac McAnally Wows Sold-Out Crowd at Mary C. Friday
OCEAN SPRINGS, MS — Ten-time Country Music Association Musician of the Year Award winner Mac McAnally made his Ocean Springs debut Friday night before a sold-out crowd at The Mary C. O'Keefe Cultural Center. The native Mississippian guided the packed house through a journey of hits he has written for some of the biggest country acts of all-time as well as the many stories and songs he shared on stage with his longtime friend and confidant and Pascagoula native Jimmy Buffett through the years.
Asset Liability Management (ALM)
Empyrean Solutions – Transforming the Office of the CFO No Comments Empyrean Solutions is a leading provider of asset liability management, risk, and performance management solutions for banks and credit unions. Empyrean’s software allows financial institutions of all sizes to take control of their balance sheet management, scenario planning, and risk & performance analysis in a single integrated software platform. The company offers a host of Read More »
Absent Additional Stimulus, Total Industry Investments Decline In The Second Quarter | Credit Unions
Absent additional stimulus and a modest uptick in loan demand, investment balances fell accordingly in the second quarter. Total investments declined 0.4% — or -$2.9 billion — from the first to second quarter and totaled $699.9 billion at midyear.
Q2 Credit Union Investment Trends: Securities Holdings Grow as CUs Put Cash to Work
Source: Callahan & Associates Latent effects from three rounds of stimulus payments translated to annual deposit growth of 14.9% in the second quarter of 2021. However, from the first quarter, share balances rose just 1.1%, down significantly from the 8.3% quarterly growth a year ago but nearly twice the average rate reported in the second quarter over the preceding three years.
Q1 Credit Union Investment Trends: Loan Portfolios Challenged to Keep Pace, Investments Exceed $700B
Source: Callahan & Associates A third round of stimulus payments combined with the seasonal spike in share inflows translated to annual deposit growth of 22.7%. From year-end 2020, share balances rose 6.4%, compared to 4.3% quarterly growth a year ago.
Credit Union Investment Balances Surpass $700 Billion | Credit Unions
Credit union performance in the first three months of 2021 varied across the industry balance sheet, with some bright spots giving optimism for a near-term return to normalcy. However, new challenges emerged, and existing headwinds lingered. A third round of relief payments combined with the seasonal spike in share inflows translated to annual deposit growth of 22.7%. From year-end 2020, share balances rose 6.4%, compared with 4.3% quarterly growth a year ago.
Q4 Credit Union Investment Trends: Investment Balances Surpass $600 Billion, Cash Rises 98.2%
Source: Callahan & Associates Key trends that emerged in the aftermath of the onset of COVID-19 largely continued through the end of 2020, despite several notable shifts occurring in the late summer and early fall as noted in our last update. After moderating in the third quarter with an uptick in loan demand, investment balances at credit unions surged 8.7% from September to December (up by $48.3 billion), totaling $600.9 billion at year-end.
Investment Balances Climb Higher In 3Q 2020 | Credit Unions
Following COVID-induced shutdowns in the spring, the economy reopened at an uneven pace this summer, leaving different segments of the economy in varying stages of operation. Facing such uncertain conditions, members remained hesitant to resume spending at pre-COVID levels, and deposit growth continued to outpace historical rates. In total, share balances rose 2.4% quarter-over-quarter and 18.1% year-over-year.
3 Ways To Manage Liquidity | Credit Unions
Credit unions require skilled managers and consistent management. Executives manage everything from branch profitability to interest rate risk, and a variety of factors can cause financial and operational challenges to arise. In today’s changing economic environment, balance sheet management — specifically, liquidity management — is top-of-mind with credit union executives as they push and pull a number of levers to make the most of their monies.
2015 Credit Union Impact Report | Credit Unions
Industry Performance (3Q 2015) Industry Performance By The Numbers (4Q 2016) Industry Performance (1Q 2016) Industry Performance By The Numbers (4Q 2015) How To Boost Retention, Reduce Attrition, And Improve Member Engagement
A Core Focus | Credit Unions
The credit union core systems marketplace has always been an ever-changing landscape, with both rookie and veteran providers competing to stand out. In fact, Callahan & Associates designed the Supplier Market Share Guide: Credit Union Core Processors partly to help financial cooperatives survey their options and find new systems that better meet their evolving needs. Credit unions let their wallets do the talking in 2015.
10 Credit Union Leaders In Dividend Payout | Credit Unions
According to estimates from Callahan & Associates’ FirstLook program, which includes year-end financial information for more than 6,000 credit unions, the industry distributed $5.3 billion in member dividends in 2015. This is a 1.8% increase over 2014; however, dividend payouts have generally been on the decline since peaking at $18.7 billion in 2007.
Lending By The Numbers (2Q 2016) | Credit Unions
During the second quarter of 2016, the median credit union loan portfolio expanded 4.2% year-over-year. Performers in the top 20th percentile posted 12.5% growth. Credit unions in the bottom 20th percentile posted negative growth of -3.8%. Read more about second quarter lending trends, including origination trends. Auto loan balances hit a new high, reaching nearly $283 billion. New and used auto loans have accounted for 40.4% of growth in the total loan portfolio.
4 Benchmarks For All Credit Union Leaders | Credit Unions
Call them chief financial officers. Or senior vice presidents of finance. Or just the head bean counters. These are people who perhaps best understand and rely on benchmarks to gauge the performance of their credit unions relative to the industry. But they’re not the only ones who can glean valuable information from these metrics.
There’s Nothing Punitive About A Bottom Line Built On Value And Service | Credit Unions
A recent report from Moebs $ervices generated this unseemly headline: “One Big Perk of Using a Credit Card Just Disappeared.” That was a Time.com/Money article about that research outfit's finding that the median overdraft fee for banks was $30 and that for credit unions it's now “a very bank-like $29.” Now, overdraft fees are considered “punitive fees,” although the service certainly serves a purpose for the consumer and credit union alike.
Increased Competition Fuels Core Market Share Gains And Losses - General Features - News | Credit Unions
The credit union core systems marketplace has always been an ever-changing landscape, with both newer and more established providers competing to stand out. In fact, Callahan & Associates designed the Supplier Market Share Guide: Credit Union Core Processors partly to help financial cooperatives survey their options and find new systems that better meet their evolving needs. One way to begin that process is to examine which companies industry peers are turning to and to what degree. As of Sept.
Year-End Data Shows Gains In Mortgage And Auto Lending | Credit Unions
According to FirstLook estimates from Callahan & Associates, 2015 was a record-setting year for credit unions on a number of fronts. Both consumer and first mortgage originations hit record highs in the fourth quarter of 2015, growing 8.6% and 33.2% year-over-year, respectively. Credit union first mortgage originations, bolstered by strong demand from members for purchase mortgages, set records in not only the dollar amount originated but also in market share attained, which hit 8.5%.
5 Graphs That Show How Technology Offers A Competitive Advantage | Credit Unions
Blogs Graphic Of The Week Credit unions with strong technology offerings outperform their peers in growth, penetration, and average relationships. When it comes to financial transactions, consumers want enhanced services that are easy to use. Credit unions that can meet this expectation have the potential to build strong member relationships that can translate into improved financial performance across a range of measures.
Leaders In Outstanding Private Student Loans | Credit Unions
Credit unions nationwide, on average, held $607,047 in outstanding private student loans on their books as of June 30, 2016, up 16.0% from $523,253 reported in June 2015. The average student loan balance increased from $7,019 to $7,274 over the past 12 months. Student loan concentration at credit unions remained flat at 0.44% as of midyear.
10 Leaders In Annual Revenue Per Full-Time Employee | Credit Unions
According to estimates from Callahan & Associates’ FirstLook program, which includes year-end financial information for more than 6,000 credit unions, the industry average for annualized revenue per full-time employee is projected to have increased 3.2% in 2015. The average number of full-time employees at credit unions also increased in 2015, growing from 41 to 44, or 7.3%.
How To Give Back In 2016 | Credit Unions
From local donations to fundraising in the aftermath of a disaster, the credit unions featured this week on CreditUnions.com are no stranger to giving back to the communities they serve. Piedmont Advantage Credit Union’s roots are deep in the airline industry, but its commitment to giving back is no flight of fancy.
Record Setting Investment Balances Continue to Rise
Following a record setting second quarter, investment balances at credit unions rose 3.4% from June (up by $18.1 billion), totaling $551.9 billion at the end of September 2020. Within the portfolio, credit unions worked to deploy excess cash into traditional investments to mitigate rising earnings pressures following Fed rate cuts in March. Cash balances fell 2.5% from June, while investments in securities and certificates expanded 7.4%.
The state of credit union investments in 2Q 2020
Investment balances were up 19.2% from the first quarter as consumer uncertainty powers growth in core deposits. As of June 30, 2020, credit unions held $533.8 billion in investments — that’s up 19.2%, or $85.7 billion, from one quarter and is the largest quarterly dollar increase on record. Notably, portfolio growth from the first to second quarters has been negative since 2011.
3 ways to use data to validate strategy
Today’s smart credit union leaders are leveraging data to benchmark and track goals, identify opportunities, and uncover weaknesses. The intersection between strategy and performance can be difficult to maneuver for many credit unions. A strategic plan is often the culmination of months of discussion and work that encompasses a range of factors and drivers that impact every area of the institution.
No one way to manage a balance sheet. No such thing as a bad loan.
On the second day of ALM First’s Financial Forum in San Diego this week, I had the opportunity to attend five sessions throughout the day. Similar to ALM First’s winter conference, the sessions for day two were divided into two tracks, with one geared towards board members and the other tailored to finance executives.
4 Benchmarks That Aren't Just for CFOs
Call them chief financial officers. Or senior vice presidents of finance. Or just the head bean counters. These are people who perhaps best understand and rely on benchmarks to gauge the performance of their credit unions relative to the industry. But they’re not the only ones who can glean valuable information from these metrics.
A Core Focus | Credit Unions
The credit union core systems marketplace has always been an ever-changing landscape, with both newer and more established providers competing to stand out. In fact, Callahan & Associates designed the Supplier Market Share Guide: Credit Union Core Processors partly to help financial cooperatives survey their options and find new systems that better meet their evolving needs. Credit unions let their wallets do the talking in 2015.
A Core Focus | Credit Unions
The credit union core systems marketplace has always been an ever-changing landscape, with both rookie and veteran providers competing to stand out. In fact, Callahan & Associates designed the Supplier Market Share Guide: Credit Union Core Processors partly to help financial cooperatives survey their options and find new systems that better meet their evolving needs. Credit unions let their wallets do the talking in 2015.
Vermont Credit Unions Lead The Industry In Mortgage Market Share | Credit Unions
Credit unions in Vermont own 23.9% of the mortgage origination market and lead the industry in total mortgage origination market share, according to 2014 Home Mortgage Disclosure Act data analzyed by Callahan & Associates. Wisconsin was second at 21.4%, followed by Iowa at 20.8%, Idaho at 19.8%, and Rhode Island at 17.5%. New Hampshire (16.8%), North Carolina (16.6%), Utah (16.1%), Michigan (14.8%), and Maine (13.7%) round out the top 10.
Increased Competition Fuels Core Market Share Gains And Losses - General Features - News | Credit Unions
The credit union core systems marketplace has always been an ever-changing landscape, with both newer and more established providers competing to stand out. In fact, Callahan & Associates designed the Supplier Market Share Guide: Credit Union Core Processors partly to help financial cooperatives survey their options and find new systems that better meet their evolving needs. One way to begin that process is to examine which companies industry peers are turning to and to what degree. As of Sept.
4 Ways The Sand States Have Dusted Themselves Off | Credit Unions
The Sand States — Arizona, California, Florida, and Nevada — were some of the hardest hit areas of the country by the recession. Although the entire nation experienced the fallout from loosened underwriting standards, deteriorating asset quality and shrinking loan portfolios exaggerated the downturn in the Sand States. Since then, however, credit unions in those states have made great strides to clean up their balance sheets.
4 Ways The Sand States Have Dusted Themselves Off | Credit Unions
The Sand States — Arizona, California, Florida, and Nevada — were some of the hardest hit areas of the country by the recession. Although the entire nation experienced the fallout from loosened underwriting standards, deteriorating asset quality and shrinking loan portfolios exaggerated the downturn in the Sand States. Since then, however, credit unions in those states have made great strides to clean up their balance sheets.
5 Graphs That Show How Technology Offers A Competitive Advantage | Credit Unions
When it comes to financial transactions, consumers want enhanced services that are easy to use. Credit unions that can meet this expectation have the potential to build strong member relationships that can translate into improved financial performance across a range of measures.
Credit Union Auto Loans Increase By Double-Digits In 40 States | Credit Unions
Nearly every type of lending surged during the first quarter of 2015 for credit unions. Aggregate loan balances increased 10.6% — or $70 billion — to $731.2 billion as of March 2015. With a respective 21.5% and 13.3% growth, new and used auto loans posted the strongest year-over-year percentage increases. Forty states reported 10% or higher growth in their total auto loan portfolio in the first quarter, and 11 states reported annual growth greater than 20%.
4 Charts About Credit Union Mergers | Credit Unions
Mergers occur in the credit union industry for a number of reasons, the largest proportion being the result of an institution that is currently unable or soon will be unable to shoulder the growing cost of operations. If recent history is any indicator, mergers in the credit union industry are not going away. In fact, they might become more prevalent as innovation and change favor size and scale. Since 2004, the decline in charters has been similar at credit unions and banks.
3 Ratios Every COO Must Know | Credit Unions
Chief operating officers have a finger on the pulse of all areas of the credit union — from revenue to asset growth, and ROA to operating expenses. COOs must monitor it all and have an in-depth understanding of not only what is happening but why. The following selection of benchmarks monitor different areas of a credit union’s health and performance and should be on the quarterly performance reports of all COOs. Definition: This measure divides operating expenses by average total assets.
Why Credit Unions Need To Benchmark And How To Avoid Pitfalls | Credit Unions
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3 Ratios Every COO Must Know | Credit Unions
Chief operating officers have a finger on the pulse of all areas of the credit union — from revenue to asset growth, and ROA to operating expenses. COOs must monitor it all and have an in-depth understanding of now only what is happening but why. The following selection of benchmarks monitor different areas of a credit union’s health and performance and should be on the quarterly performance reports of all COOs. Definition: This measure divides operating expenses by average total assets.
5 Benchmarks Every CEO Must Know | Credit Unions
The most effective chief executive officers have a high-level understanding of everything happening at their institution. To aid them in their duty, CEOs can use the following metrics to achieve baseline knowledge about the general health of their credit union. Definition: Loan growth is the period-to-period change of loans outstanding. The loan growth national average as of year-end 2014 is 10.4%. Loan Growth For all U.S. credit unions | Data as of Dec.
Employment And Salary Trends In The U.S. Financial Services Industry | Credit Unions
Since 2006, as the United States was slipping into the recession, credit unions have fared significantly better from an employment perspective than their broader financial services peers. In 2009, the low point of the recession, credit union employment growth remained positive — it increased 0.4% as employment in the U.S. financial services sector declined 4.1%.
Credit Unions And The U.S. Housing Market | Credit Unions
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4 Ratios All Staff Members Should Know | Credit Unions | Credit Unions
Credit union CFOs have a complex, highly demanding job. In addition to managing their own daily tasks — and the credit union’s performance — they often must educate C-suite executives and other employees who do not have the level of financial acumen required of a CFO. Often, they must show credit union staff members how to analyze and interpret various financial benchmarks and metrics. The following benchmarks are ones that CFOs use daily.
4 Ratios All Staff Members Should Know | Credit Unions | Credit Unions
Credit union CFOs have a complex, highly demanding job. In addition to managing their own daily tasks — and the credit union’s performance — they often must educate C-suite executives and other employees who do not have the level of financial acumen required of a CFO. Often, they must show credit union staff members how to analyze and interpret various financial benchmarks and metrics. The following benchmarks are ones that CFOs use daily.
4 Ways To Improve Member Onboarding | Credit Unions
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How Are Credit Unions Lining Members' Pockets? | Credit Unions
In nearly every loan product category, credit unions offer members more favorable rates compared to national bank rate averages. Higher dividend payments help credit unions deliver more value in their savings products. Credit union products save members money. Notably, members that financed used car loans through credit unions saved more than $1.6 billion in aggregate as of midyear 2014. Credit unions offer better rates across a range of savings products.
3 Graphs About Core Processor Market Share | Credit Unions
With more than 400 clients between them, Fiserv and Symitar control the majority of the market for credit unions with $250 million to $1 billion in assets. However, there is significant competition among providers serving less than 50 clients. With 759 credit union clients, FedComp holds sizable market share in the less than $50 million asset range. This outlier aside, providers building their books of business makes the competitive landscape more evenly dispersed in this asset demographic.
Market Share And Opportunities In The Core Systems Space | Credit Unions
The core systems marketplace for credit unions has evolved throughout the past year with many changes mirroring activities occurring at the larger industry level. As such, Callahan & Associates designed the 2015 Market Share Guide to Credit Union Core Processors to better prepare credit unions for changes to their core processing systems.
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