This week, CreditUnions.com looks at credit union investments, the margin environment, how one credit union counts on its coin machines, ways to make the most of online reviews, and more.
Here are five can’t-miss data points for the week:
The credit union industry’s investment portfolio increased 1.6% year-over-year, with investments totaling nearly $384.5 billion at the end of second quarter 2017. In fact, investment growth at credit unions has been positive for four out of the past six quarters.
Learn more about this segment of the balance sheet in Investments By The Numbers.
New coin-counting machines at Wescom Credit Union allow members to deposit cash directly into a checking or savings account, while saving time for both members and tellers. Through October 2017, credit union members bring in $347,202.39 per month on average in coin deposits.
To learn more about these machines, and why they offer an improved member experience, read Wescom Counts On Coin Machines For Direct Deposit. ContentMiddleAd
A full 92% of consumers read online reviews, and 84% of consumers trust online reviews as much as a personal recommendation. What’s more, a single negative review can cost a business as many as 30 customers. That’s 30 fewer people a credit union can help with their financial needs. And although a credit union can’t control what people write about the institution, it can control how it responds.
What are the do’s and don’ts for responding to digital feedback? Read 8 Ways To Make The Most Of Online Reviews.
Credit unions’ net interest margin reached 2.97% in third quarter 2017. That’s a 9-basis-point increase over one year ago. In contrast, the operating expense ratio dropped 3 basis points year-over-year to 3.07%, marking the second year in a row of third quarter improvement.
Read more in Favorable Margins Smile Upon Credit Unions.
3.9 Percentage Points
In 2016, 69.7% of the 3.1 million high school graduates enrolled in college. In 2006, just 65.8% of 2.5 million high school graduates could say the same, a difference of approximately 3.9 percentage points. But how has this jump in college enrollment affected credit union lending?
Find out in More Students. More Student Lending.