Core Conversions By Assets, State Deposit Market Share, And What To Look Forward To In 2017

Five can't-miss data points featured this week on CreditUnions.com.

This week,CreditUnions.com looks at the credit unions most likely to convert their core processor based on asset range, state deposit market share statistics, and what eight industry players see in store for 2017.

Here are five data points you can’t miss:

10%

From 2014 to 2016, approximately 10% of credit unions converted their core processor, according to data from Callahan & Associates. And interestingly, there appears to be a relationship between the conversion rate and credit union asset size.

To find out which asset size were 2.5 times more likely to convert cores than any other group, check out The Relationship Between Credit Union Size And Core Conversion Frequency

53.7%

Approximately 53.7% of state credit unions were posting double-digit deposit market share as of June 30, 2016 the most recent data set released by the FDIC for bank-to-credit union comparison. Additionally, 57.4% of states had at least $10 billion in total deposits on the books, which helps in sustaining the strong loan growth the industry has seen in recent years.

To learn more about how a surge in deposits helps prepare credit union books for interest rate increases, read State Leaders In Deposit Market Share

15 Percentage Points

University Credit Unionin Orono, ME, serves the students, employees, and alumni of the state’s university system. The share draft penetration at the credit union notably exceeds those of peer institutions by 15 percentage points 70.4% versus 55.0% for credit unions with $250 million to $500 million in assets and 61.0% for Maine credit unions, according to Search & Analyze data on CreditUnions.com. But member participation in the lending arena lags that of its peers.

To see how the credit unioncreates new positions and titles to support a tighter lending environment read, A Strategy To Strengthen Lending And Increase Efficiency

Eight

The credit union industry strove in 2016 to keep up with growing demands from regulators and consumers alike. So, what lies in store in the next 12 months?

In What’s In Store For 2017 eight industry players including PSCU, MasterCard, and Symitartake a look back and then forward while sharing their thoughts on digital transformation, innovation, and compliance.

17 Basis Points

In its Wednesday Federal Open Market Committee (FOMC) session, the Federal Reserve moved its benchmark interest rate higher, from its 0.25-0.50 percent to 0.50-0.75 percent.

Then the bond market reacted. By the end of the day the 2-year yield was 11 basis points higher than before the announcement, and the 30-year bond popped 9 basis points higher. But the real show was in the 5- to 10-year sector. The 5-year yield jumped 17 basis points and the 10-year 14 basis points. Read more in Yields Hit Big Levels

Happy Reading!

December 19, 2016

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