1q 2016 - credit union league...reaching $217,600 as of march 2016. total existing-home sales...

1Q 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

Iowa Credit Unions Outpace National Credit Union Avg. in Loan & Share Growth 6

ROA Tops National Average By 23 Basis Points 6

Real Estate and MBL Originations Offset Consumer Origination Contraction 7

Delinquency Rate Falls 10 Basis Points 8

Asset Quality Comparisons 9

Share Growth Outpaces National Average By 1.7 Percentage Points 10

Interest And Non-Interest Income Expand From 2015 Levels 11

Iowa Credit Union Membership Expands By Nearly 24,000 12

Special Section: Auto Lending 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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1ST QUARTER 2016

PERFORMANCE COMPARISON REPORT

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

1Q 2016 QUARTERLY PERFORMANCE SUMMARY 3

KEY PERFORMANCE COMPARISONS | AS OF MARCH 31, 2016

AS A % OF AVERAGE ASSETS

U.S. CUs IA CUs

Interest Income 3.38% 3.55%

Interest Expense 0.51% 0.73%

Net Interest Margin 2.87% 2.82%

Loss Provisions 0.35% 0.19%

Operating Expenses (including stabilization expenses) 3.08% 2.84%

Non-Interest Income 1.31% 1.19%

ROA 0.75% 0.98%

U.S. CUs IA CUs

12-Month Loan Growth 10.75% 13.79%

12-Month Share Growth 6.74% 8.42%

12-Month Member Growth 3.77% 2.27%

12-Month Net Worth Growth 6.87% 10.08%

12-Month Asset Growth 7.07% 9.22%

Loans/Shares 76.01% 86.83%

Net Worth/Assets 10.79% 10.53%

Capital/Assets 11.25% 11.05%

Delinquency Ratio 0.71% 0.55%

Average Loan Balance $13,833 $15,009

Average Share Balance $10,066 $11,148

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

Number of CUs 6,080 96 1.58%

Federal Chartered CUs 3,721 1 0.03%

State Chartered CUs, NCUSIF Insured 2,233 95 4.25%

State Chartered CUs, ASI Insured 126 0 0.00%

Total State Chartered CUs 2,359 95 4.03%

Total Members 105,018,942 1,071,698 1.02%

Members, Average per CU 17,273 11,164 64.63%

# of Mergers/Liquidations YTD 67 0 0.00%

Total Assets $1,255,880,412,769 $14,462,715,561 1.15%

Total Loans $809,047,560,106 $10,639,130,589 1.32%

Total Shares $1,064,424,714,975 $12,252,196,604 1.15%

Total Net Worth $135,462,165,237 $1,523,158,086 1.12%

Average Asset Size $206,559,278 $150,653,287 72.93%

4 1Q 2016 QUARTERLY PERFORMANCE SUMMARY


KEY TAKEAWAYS FOR IOWA CREDIT UNIONS

Iowa’s total loan portfolio expanded 13.8% from the previous March to over $10.6 billion as of March

2016. All major loan categories posted strong year-over-year growth, with new auto loans increasing at

the fastest rate of 19.7% to top $1.0 billion.

As of March 31, 2016, total share balances at Iowa credit unions stood at $12.3 billion, a year-over-year

increase of 8.4%, or $951.3 million. This rate exceeds the national average for share growth of 6.7%.

Year-to-date total loan originations in Iowa increased 0.8% over 2015 levels to reach nearly $1.4 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 36.0% over the same period in 2015, surpassing $390 million at

the end of the first quarter. Member business lending soared 71.2% compared to the same time last

year, reaching $160.9 million.

The average member relationship (the outstanding combined loan and share balances per member,

excluding business loans) is on the rise at Iowa credit unions, up 7.5% year-over-year to $19,848 as of

March 2016. This is also higher than the national average of $17,251.

Thanks to Iowa credit unions’ expanding loan portfolio, total interest income at Iowa credit unions grew

8.7% over the past year to top $127 million in the first quarter of 2016. The 9.7% growth in loan income

offset the 1.0% decline in investment income. Both components of non-interest income – fee income

and other operating income – posted year-over-year growth of 3.1% and 9.7%, respectively. Growth in

loan income, fee income, and other operating income led to a 8.1% annual increase in total income at

Iowa credit unions in the first quarter of 2016.

Asset quality at Iowa credit unions improved across nearly every segment in the first quarter of 2016. The

largest improvement was seen in member business lending delinquency which posted a 56 basis point

decline year-over-year, and currently sits at 0.42%, almost a full percentage point below the national

credit union MBL average.

EXECUTIVE SUMMARY

Despite slowing growth in the broader national economy in the first quarter of 2016, the national credit union

industry continued its pattern of recent success. Iowa credit unions bested their national peers across

multiple categories. Growth of outstanding loan balances at Iowa credit unions accelerated, expanding 13.8%

year-over-year in comparison to the national average of 10.8%. More impressively, every major loan category

except other real estate posted an annual increase of at least 10%, with new auto loans expanding at the

fastest rate of 19.7%. Asset quality continues to improve at Iowa credit unions, as of March 2016 the

delinquency rate in the state declined ten basis points year-over-year to 0.55%, and sits 16 basis points below

the national average of 0.71%. Balances of share deposits surged 8.4% over the period, outpacing the

national average by nearly 1.7 percentage points.



THE NATIONAL ECONOMIC SUMMARY

Real gross domestic product (GDP) increased 0.8% in

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

estimate released by the Bureau of Economic Analysis.

First quarter GDP growth is primarily attributed to a rise

in personal consumption expenditures (PCE) on services,

specifically housing and utilities as well as healthcare.

Consumer spending on nondurable goods such as food,

beverage, and grocery items as well as residential

investment also increased in the quarter. The above

contributors helped offset the decline in business

investment, goods exports, farm and nonfarm private

inventory investment, and federal government spending.

According to the National Association of Realtors,

national median home prices rose 6.3% year-over-year,

reaching $217,600 as of March 2016. Total existing-

home sales increased slightly from December 2015, up

1.7%, and up 4.8% from March 2015. Home sales

increased to a seasonally adjusted annual rate of 5.29

million in March from 5.20 million in December 2015

and 5.05 million in March 2015. According to Lawrence

Yun, the chief economist at the National Association of

Realtors, home prices increased at a strong pace in

most metro areas during the first three months of the

year. Additionally, according to Yun “the solid run of

sustained job creation and attractive mortgage rates

below 4 percent spurred steady demand for home

purchases in many local markets”.

In Iowa, the median home price increased 4.2% from the

previous March to $132,900. Iowa’s home sales in the

first quarter were also up 1.7% compared to March

2015 (Iowa Association of Realtors). 7,008 homes were

sold in Iowa during the first three months of the year,

versus 6,893 in the same period in 2015.

Nationwide, there were approximately 36,000

completed foreclosures in March, down 14.9% year-over-

year (CoreLogic). The national foreclosure rate stood at

1.1% as of March 2016, which places it back near the

pre-recession November 2007 level. Iowa reported a

foreclosure inventory rate of 0.8% as of March 2016,

and a foreclosure inventory decline of 14.5% from

March 2015.

The national unemployment rate decreased to 5.0% as

of March 2016, down 0.5 percentage points from

March 2015. Iowa’s unemployment rate is still

significantly below the national average, standing at

3.8% as of March 2016, but is up 10 basis points from

March 2015.

Total nonfarm payroll data show that over 1.58 million

people were employed in Iowa as of March 2015. The

trade, transportation, & utilities sector remains the

largest portion of the overall nonfarm payroll in the

state, accounting for 20.5% of all nonfarm employees.

The next largest industry is government, accounting for

17.0% of total nonfarm payrolls. Education & health

services account for 15.1% of Iowa’s total nonfarm

employees as of March 2016.



IOWA CREDIT UNIONS OUTPACE NATIONAL CREDIT UNION AVERAGE IN LOAN AND

SHARE GROWTH

On an annual basis, Iowa credit unions grew their loan

and share balances faster than all but Iowa savings banks

as of March 2016. Additionally, the delinquency ratio at

Iowa credit unions continues to improve and remains

below both state and national peer averages.

Earnings

Iowa credit unions recorded an ROA of 0.98% in the first

quarter of 2016, down five basis points from March

2015. This is higher than U.S. credit union and bank

averages, but below Iowa savings and commercial banks.

Growth

Outstanding loan balances at Iowa credit unions

expanded an impressive 13.8% since March 2015. This

loan growth is nearly double the rate reported by Iowa and

national commercial banks, and only trailed Iowa savings

institutions. Share balances at Iowa credit unions grew

8.4% 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.

Asset Quality

At 55 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.

Net Worth

As of March 2016, Iowa credit unions reported a net

worth ratio of 10.5%, up 8 basis points from a year prior.

Iowa credit unions are more capitalized than their local

savings and national bank peers, outpaced only by

national credit union peers with a net worth ratio of

10.9%.

ROA TOPS NATIONAL AVERAGE BY 23

BASIS POINTS

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

increased 3.2% from a year ago. Growth was powered by

strong interest income and non-interest income gains

despite increased operating expenses and higher

provision expenses.

Keeping with the national trend, Iowa credit unions’ net

income of $34.9 million is 3.8% higher than net income

reported in March 2015. Higher interest income and

other operating income successfully offset a 9.0%

increase in operating expenses, lower non-operating

gains, and higher cost of funds. The elevated cost of

funds in the first quarter of 2016 is attributed to a 13.3%

jump in interest on borrowed funds and a 17.9% increase

in dividends. However, a 10.9% decline in provision

expenses also helped contribute to the growth in net

income.

Nationally, credit unions reported an annualized ROA of

75 basis points, down 3 basis points from a year ago but

flat from December 2015. Meanwhile, Iowa credit unions’

ROA fell by 5 basis points from the same time last year to

0.98% in the first quarter of 2016.

Through March, credit unions nationwide reported a net

interest margin of 2.87%, up 5 basis points from the first

quarter of 2015. Iowa credit unions reported a nine basis

point decline in their net interest margin, falling to 2.82%.



REAL ESTATE AND MBL ORIGINATIONS OFFSET CONSUMER ORIGINATION

CONTRACTION

In the first three months of 2016, credit unions nationally

posted a growth rate of 12.7% in loans originated compared

to the same period in 2015. Originations at Iowa credit

unions increased at a slower pace, up 0.8% over 2015

levels to reach $1.4 billion.

On a national level, the industry posted a record first quarter

origination amount of $100.6 billion through March 31, with

every major loan category posting year-over-year growth. In

Iowa, the year-over-year increases in first mortgage loan

originations, other real estate, and member business

lending originations helped to offset the 19.2% decline in

consumer originations.

Real Estate

First mortgage lending slowed in the first quarter of 2016,

as member demand waned despite persistently low interest

rates. Nationally, credit unions saw first mortgage

originations taper off, posting a 1.9% year-over-year

increase as of March 31. Despite the national slowdown,

first mortgage originations in Iowa grew considerably over

the past year, up 36.0% from the first quarter of 2015 to

nearly $393 million. Other real estate originations also

increased compared to last year, posting year-over-year

growth of 15.1%.

In the first quarter of 2016, Iowa credit unions sold over

$182 million in first mortgages to the secondary market, or

46.5% of total first mortgage originations. This is down

significantly from the 88.5% of originations sold in the same

period of 2015. This was also well above the percentage of

originations sold by credit unions nationally, which on

average sold only 36.9% 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 expanded 13.1%, slightly

above the national average growth rate of 10.4%.

Consumer Loans

Iowa credit unions originated $730.8 million in consumer

loans in the first three months of 2016, down $173.4

million from the same period in 2015. This decrease is

counter to the 17.1% 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 19.7% to surpass

$1.0 billion, outpacing the national average of 15.4%. Iowa

credit unions’ used auto loan growth of 13.8% also exceeds

the national average of 13.3%, with used auto loan

balances in Iowa totaling nearly $2.7 billion. In aggregate,

Iowa credit unions’ overall auto loan portfolio increased

$493.5 million, up 15.4% over the previous March to reach

$3.7 billion. Over the past twelve months, outstanding

indirect loans in Iowa grew 22.7% year-over-year, topping

$2.0 billion. Indirect loans now represent 56.4% of Iowa’s

total auto loans, up from 53.0% a year ago.

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

rose 15.1% annually to hit $399.4 million. Other unsecured

loans and lines of credit at Iowa credit unions totaled

$723.2 million as of March 2016, up 17.7% 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 in the first quarter of 2016. Nationally, credit unions

originated $4.2 billion in MBL, up 15.6% from the same

period in 2015. Credit unions in Iowa nearly doubled their

MBL originations in the first quarter of 2016 compared to

the first quarter of last year. In total, Iowa credit unions

originated $160.9 million in MBL in the first three months of

the year, up 71.2% from March 2015.



DELINQUENCY RATE FALLS 10 BASIS

POINTS

The overall delinquency rate at credit unions nationwide

increased two basis points over the last twelve months

to 0.71% as of March 2016. In Iowa, the delinquency

rate dropped 10 basis points over the past twelve

months to stand at 0.55% as of March 31. Notably,

delinquency rates for nearly every major loan category at

Iowa credit unions posted year-over-year decreases as of

the end of the first quarter of 2016 (see chart on the

next page for comparisons).

First mortgage and other real estate delinquency both

improved from a year ago at Iowa credit unions and

remain well below the national averages. As of March

2016, credit unions in Iowa reported an average first

mortgage delinquency rate of 0.35%, down eight basis

points from March 2015. Other real estate delinquency

also declined six basis points over the previous March to

0.46% compared to the national average of 0.65%.

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

mortgages increased three basis points to 0.05% as of

March 2016. Other real estate loan net charge-offs

declined annually, down three basis points to 0.11%.

Iowa’s net charge-off rates for both categories of real

estate loans mirror the national averages.

While the credit card delinquency rate for Iowa credit

unions increased by nine basis points to 0.84%, the

credit card net charge-off rate posted an annual decline

of 20 basis points to 1.25% as of March 2016.

Additionally, Iowa’s credit card net charge-off rate is still

well below the national average of 2.20%.

Auto loan delinquency, which was a new addition to the

NCUA 5300 Call Report in the second quarter of 2013,

was 0.72% as of March 2016. This is down ten basis

points from the previous March.

As of March 2016, credit unions in Iowa have written off

a slightly lower percentage of their loans than in prior

years. Their annualized net charge-off rate is 32 basis

points, down five basis points from the 0.37% reported

in March 2015. Moreover, the net charge-off rate of 32

basis points for Iowa is lower than the national average,

which stood at 52 basis points as of March 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 15 basis points for credit

unions under $20 million and a high of 33 basis points

for credit unions with assets over $100 million. Notably,

Iowa credit unions over $100 million in assets reported a

five basis point decline in the net charge-off ratio, which

is due primarily to lower credit card, MBL, and auto loan

charge-offs over the past 12 months.

However, an opposite trend is found in the delinquency

rates, with the largest credit unions in the state reporting

a delinquency ratio of 0.51% in comparison to the

smaller credit unions’ delinquency ratio of 1.10%. Iowa

credit unions between $20 million and $100 million

reported a delinquency rate of 0.87% at the end of the

first quarter. This group saw a five basis point increase in

the delinquency ratio from March 2015, while credit

unions over $100 million in assets posted a 12 basis

point decline. Credit unions under $20 million reported

their delinquency rate increased 13 basis points from

the 0.97% reported in March 2015.



IA CUs

Under $20M

IA CUs

$20M-$100M

IA CUs

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

2016

Delinquency Ratio 1.10% 0.87% 0.51% 0.55% 0.71%

1st Mortgage Delinquency 0.67% 0.52% 0.34% 0.35% 0.59%

Other RE Delinquency 0.61% 1.26% 0.40% 0.46% 0.65%

Credit Card Delinquency 0.07% 1.80% 0.80% 0.84% 0.94%

MBL Delinquency 0.00% 0.61% 0.42% 0.42% 1.41%

Auto Delinquency 1.20% 0.92% 0.69% 0.72% 0.54%

Net Charge-Off Ratio 0.15% 0.27% 0.33% 0.32% 0.52%

1st Mortgage Charge-Offs 0.00% 0.27% 0.04% 0.05% 0.05%

Other RE Charge-Offs -0.01% 0.00% 0.12% 0.11% 0.11%

Credit Card Charge-Offs 0.61% 0.42% 1.30% 1.25% 2.20%

MBL Charge-Offs 0.00% 0.00% -0.01% -0.01% 0.19%

Auto Charge-Offs 0.09% 0.24% 0.54% 0.50% 0.62%

2015





MBL Delinquency 0.00% 1.46% 0.97% 0.98% 0.90%




Other RE Charge-Offs -0.06% -0.03% 0.16% 0.14% 0.18%

Credit Card Charge-Offs -1.66% 1.15% 1.50% 1.45% 2.00%

MBL Charge-Offs 0.00% 0.00% 0.05% 0.05% 0.11%

Auto Charge-Offs 0.08% 0.34% 0.63% 0.58% 0.53%

2014





MBL Delinquency 6.94% 0.00% 1.05% 1.04% 1.26%




Other RE Charge-Offs 0.00% 0.31% 0.19% 0.20% 0.34%

Credit Card Charge-Offs 1.95% 0.79% 1.35% 1.31% 2.00%

MBL Charge-Offs 0.00% 0.00% 0.33% 0.33% 0.16%

Auto Charge-Offs 0.25% 0.31% 0.53% 0.48% 0.51%

ASSET QUALITY COMPARISONS | DATA AS OF MARCH 31, 2016



SHARE GROWTH OUTPACES NATIONAL

AVERAGE BY 1.7 PERCENTAGE POINTS

Share balances in Iowa grew 8.4% over the past 12

months, exceeding the 6.7% growth seen nationally. As

of March 2016, total shares at Iowa credit unions rose to

nearly $12.3 billion, with every share component

growing year-over-year.

Share certificates, comprising over 28% of Iowa credit

unions’ total share portfolio, posted the fastest growth,

rising 10.4% year-over-year to nearly $3.5 billion as of

March 2016. This represents an increase of $326.2

million in share certificate balances over the previous

March. Meanwhile, credit unions nationwide saw

balances held in share certificate accounts increase by

just 2.6% from a year ago.

In Iowa, regular shares and deposits balances, which are

the largest component of the share portfolio,

experienced the second fastest growth, increasing 9.8%

from March 2015. Regular shares and deposits

balances now total $4.0 billion.

IRA and Keogh balances, making up just 5.9% of Iowa’s

share portfolio, are also up 8.6% year-over-year to reach

$721.1 million as of March 2016. Share draft balances

expanded at the fourth fastest rate of any component in

the share portfolio over the past 12 months, growing

7.5% year-over-year to reach nearly $1.8 billion as of

March 2016.

Money market shares rose 4.0% 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 4.8% over the previous March.

The largest dollar increase was in cash & cash

equivalents, expanding $130.7 million — or 15.2% —

from March 2015 to $990.4 million. Meanwhile, the

largest dollar amount decrease was from government

and agency securities, posting a year-over-year decline

of $217.2 million — or 20.0% — to $867.9 million.

Credit unions in Iowa also saw their investment

maturities shorten over the past twelve months. At the

end of March 2016, 50.5% of the Iowa credit union

investment portfolio is in holdings with maturities of

more than one year, down from 55.5% in March 2015.

The largest decline in the portfolio was seen in

investments with maturities of three to five years, this

segment decreased 27.3%, or $162.5 million, to

$433.1 million as of March 2016.



INTEREST AND NON-INTEREST INCOME

EXPAND FROM 2015 LEVELS

Credit unions nationwide saw total revenue increase

8.2% from the first quarter of 2015. Revenue for the

first three months of 2016 at Iowa credit unions is up

8.1% to $168.9 million, as increased loan income and

non-interest income offset the smaller decline in

investment income.

Interest Income

Nationally, total interest income at credit unions

increased 9.0% compared to the same period in 2015,

with loan income rising 8.7% while investment income

grew 10.3%. In Iowa, total interest income increased

8.7% in the first three months of 2016. Year-over-year,

average loan yields fell from 4.59% in March 2015 to

4.44% in March 2016. Offsetting this decline, the

13.8% rise in total loan balances was sufficient to grow

loan income, rising 9.7% year-over–year to $116.7

million at the end of March 2016. On the investments

side, Iowa credit unions saw their average yield

increase two basis points from March 2015. Despite a

slightly higher yield, interest income from investments

fell 1.0% from March 2015 to $10.4 million.

Non-Interest Income

At the end of 2015, the nation’s credit unions saw their

non-interest income expand 6.7%. In Iowa, non-interest

income grew at a slight slower pace as credit unions in

the state reported a 6.1% increase in total non-interest

income of $42.5 million through March 31. Today, the

industry as a whole derives 28.2% of its income from

non-interest sources, while credit unions in Iowa derive

a slightly lower percentage — 25.1% in March 2016,

down from 25.6% reported last year.

Both fee and other operating income in Iowa posted

growth during the period, increasing 3.1% and 9.7%,

respectively. The growth in other operating income is

largely attributed to secondary market activity.

Operating Expenses

Excluding stabilization, operating expenses for Iowa’s

credit unions rose 9.0% in the first quarter 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 6.0%, while

compensation grew 10.5% year-over-year. Today,

employee compensation and benefits expenses

comprise 52.4% of the total operating expenses at

Iowa credit unions. Expenses related to office

operations posted the second largest dollar increase,

expanding by $1.6 million – or 11.2% – to nearly $15.7

million at the end of the first quarter.

Net Worth

As of March 31, the aggregate net worth ratio for Iowa

credit unions was 10.5%, up eight basis points from

March 2015. Overall net worth increased 10.1% to

$1.5 billion. Relatively slower asset growth-to-reserve

growth can be attributed for the increase in the ratio.



IOWA CREDIT UNION MEMBERSHIP EX-

PANDS BY NEARLY 24,000

Total membership at Iowa credit unions reached 1.07

million members as of March 2016 with the addition of

23,816 members in the past twelve months. Iowa cred-

it unions’ year-over-year membership growth of 2.3% is

slightly slower than the 3.8% 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 March 2016. Over the past year, auto

penetration had the fastest growth among all product

categories, increasing 1.52 percentage points to nearly

27.0% as of March 2016, compared with the national

average of 18.6%. Share draft penetration rose by 1.13

percentage points to 56.8%, higher than the national

average of 55.3%. Credit card penetration at Iowa credit

unions increased 34 basis points over the last twelve

months to 18.2%, and remained above the national

average of 17.1%. Real estate penetration was also up

44 basis points to 8.5%, nearly double the national

average of 4.4% (This metric only reflects 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.

This metric, representing the total dollar amount of loan

balances (excluding member business loans) and de-

posits per member, increased 7.5% over the previous

March to reach $19,848. This tops the national average

by $2,597 as of March 2016.



SPECIAL SECTION: AUTO LENDING

Auto lending continues to boom both nationally and in Iowa. Credit

union market share and auto loan penetration rates are keeping with

recent trends as they tick upward. Auto lending has always been a

mainstay in the credit union sphere, and currently, auto loans

comprise 33.7% of the national credit union loan portfolio and 34.8%

of the Iowa credit union loan portfolio. While overall auto lending

trends have been consistently on the rise, the industry composition

could be shifting as a result of rising numbers in both new auto loans

and indirect lending.

National Auto Lending Trends

Total auto lending expanded 14.1% year-over-year to reach $272.4

billion at the end of March 2016. Although growth is down from last

year’s 16.1% rate, this quarter marks the twelfth consecutive quarter

of double-digit national auto loan growth. National market share

expanded to 17.1%, up from 16.3% in the first quarter of last year.

Auto delinquency and net charge-off ratios rose slightly over the last 12

months. Auto delinquency increased 3 basis points to 0.54%, and auto

net-charge offs rose 11 basis points to 0.62%. The auto net charge-

offs rate has been creeping up steadily and is at its highest point in the

three-year history of required reporting. The national credit union auto

portfolio has grown 32.2% since March 2014, yet the net-charge off

auto amount has grown nearly twice as fast, at 59.1%, over the same

period. The total net-charge off ratio is considerably down, at 0.52%,

since its high of 1.19% following the recession.

Iowa Auto Lending

Iowa currently holds $3.7 billion in auto loans, and each of the 96 Iowa

credit unions reported an auto loan on its balance sheet as of March

2016. Iowa bested the national average auto loan growth rate of

14.1% with an increase of 15.4% year-over-year. Boasting a 38.6%

market share, Iowa ranks fifth for total auto market share in the

nation. Iowa’s market share is up eight percentage points from last

year’s 30.6%, making Iowa’s growth the highest annual growth of any

state.

Although Iowa has a higher than average auto delinquency rate of

0.72%, its average auto net-charge off rate was below the national

average at 51 basis points. This dynamic between the delinquency and

net charge-off rates implies that Iowa credit unions are more effective

at managing delinquent loans and pursuing collections on delinquent

loans before they need to be charged off.

New vs. Used Lending

Currently, new auto loans comprise 38.1% of the national auto loan

portfolio and 27.9% of the Iowa auto loan portfolio. New auto loans

expanded 15.4% nationally to $103.9 billion, and 19.7% in Iowa to

surpass $1.0 billion. As new auto loans climb, the credit union industry

could start to approach a balanced new and used auto loan portfolio.

Delinquency rates are considerably lower for new auto loans.

Nationally, the new auto loan delinquency rate, at 0.35%, sits 31 basis

points lower than the 0.66% used auto delinquency rate. In Iowa, the

gap is even larger at 53 basis points, with a 0.87% delinquency rate for

used auto loans and a 0.34% delinquency rate for new auto loans.

The Rise of Indirect

Nationally, indirect loans reached $142.5 billion in the first quarter of

2016. Over the past ten years, indirect lending as a percentage of

total auto loans has climbed from 38.2% in the first quarter 2006 to

52.3% today. For the past few quarters, indirect lending growth has

outpaced direct lending. Year-over-year, indirect lending boasted a

19.4% growth rate while direct lending expanded 8.8%. Only 30.4% of

all credit unions hold indirect loans, but these same credit unions

hold 74.7% of the industry’s total auto loan portfolio.

In Iowa, indirect lending now accounts for 56.4% of the auto loan

portfolio, up from last year’s 53.3%. Mirroring national trends, only

34.4% of Iowa credit unions hold indirect loans, but those that hold

indirect loans collectively account for 90.7% of auto loans in the

state. Both nationally and in Iowa, indirect lending keeps climbing

and is shifting the credit union auto lending landscape.



CONSOLIDATED U.S. CREDIT UNION FINANCIAL STATEMENT | DATA AS OF MARCH 31, 2016 (THOUSANDS OF DOLLARS)

ALL U.S.

March 2015 March 2016 % Chg

3 Months Ended

March 2015

3 Months Ended

March 2016 % Chg

Assets: Income:

Cash & Equivalents 107,242,824 115,461,951 7.66% Loans 8,511,265 9,254,650 8.73%

Govt & Agencies 198,645,802 187,976,727 -5.37% (Less Rebates) (5,762) (4,476) -22.32%

Corporate Credit Union 3,018,737 2,986,387 -1.07% Investments 1,085,727 1,197,361 10.28%

Banks and S&Ls 42,896,235 40,787,682 -4.92% Fee Income 1,745,546 1,843,849 5.63%

Mutual Funds 1,982,898 1,922,660 -3.04% Trading & Other Operating 1,907,016 2,043,587 7.16%

All Other Inv & Ins 37,173,670 41,930,974 12.80% Total Income 13,243,793 14,334,971 8.24%

Total Investments, Cash & Cash Eq. 390,960,166 391,066,380 0.03%

Expenses:

Real Estate Loans 373,734,637 407,796,195 9.11% Employee Compensation and Benefits 4,524,911 4,897,237 8.23%

Auto Loans 238,773,470 272,399,221 14.08% Travel & Conference 80,640 86,110 6.78%

All Other Loans 118,010,087 128,852,145 9.19% Office Occupancy 636,457 641,572 0.80%

Total Loans 730,518,193 809,047,560 10.75% Office Operations 1,659,146 1,775,879 7.04%

Education & Promotional 312,365 334,978 7.24%

(Loan Loss Allow) (7,014,310) (7,471,621) 6.52% Loan Servicing 636,358 663,073 4.20%

Professional Services 686,228 743,761 8.38%

Repossessed Property 1,078,857 967,419 -10.33% Member Insurance 6,549 4,918 -24.90%

Land & Buildings 19,316,919 20,304,163 5.11% Operating Fees 35,005 35,559 1.58%

Other Fixed Assets 3,921,393 4,277,748 9.09% Miscellaneous 298,346 334,791 12.22%

All Other Assets 34,128,847 37,688,763 10.43% Operating Expense Subtotal 8,876,004 9,517,877 7.23%

Total Assets 1,172,910,065 1,255,880,413 7.07%

Prov/Loan Loss 806,683 1,093,883 35.60%

Liabilities & Capital: Operating Expense + PLL 9,682,687 10,611,759 9.60%

Dividends Payable 171,790 173,939 1.25%

Notes Payable 35,982,992 43,844,910 21.85% Non-Operating Gain (Loss) 139,968 161,303 15.24%

Reverse Repurchase Agreements 2,592,245 1,075,811 -58.50% Income before Dividends 3,701,073 3,884,515 4.96%

Other Liabilities 11,564,554 12,663,331 9.50%

Total Liabilities 50,311,581 57,757,990 14.80% Cost Of Funds:

Interest on Borrowed Funds 193,475 221,107 14.28%

Regular Shares & Deposits 359,781,971 392,446,113 9.08% Dividends 1,263,569 1,349,742 6.82%

Money Market Shares 227,461,956 240,851,866 5.89% Net Income Prior to Stabilization 2,244,029 2,313,666 3.10%

Share Drafts 141,717,328 157,629,180 11.23%

IRA & Keogh 77,425,393 77,805,521 0.49% Net NCUA Assessment Expenses 2,467 944 -61.75%

Share Certificates 190,799,685 195,692,035 2.56% Net Income 2,241,562 2,312,722 3.17%

Total Shares 997,186,333 1,064,424,715 6.74%

% Chg

Regular Reserve 20,361,955 20,886,974 2.58% Total Number of Credit Unions 6,334 6,080 -4.01%

FASB 115 Valuation Reserve (1,093,526) (1,507,962) 37.90% # of FCU's 3,885 3,721 -4.22%

Undivided Earnings & Other Reserves 104,202,352 111,920,431 7.41% # of SCU's - Federally Insured 2,321 2,233 -3.79%

Equity Acquired in Merger 1,941,369 2,398,265 23.53% # of SCU's - Cooperatively Insured 128 126 -1.56%

Total Reserves & Undivided Earnings 125,412,150 133,697,708 6.61% Members 101,200,991 105,018,942 3.77%

Total Liabilities & Capital 1,172,910,065 1,255,880,413 7.07% Employees 263,212 273,259 3.82%

Average Share Balance 9,799 10,066 2.72%

Average Loan Balance 13,367 13,833 3.49%



U.S. CREDIT UNION PEER GROUP PERFORMANCE | ALL U.S. CREDIT UNIONS AS OF MARCH 31, 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 6,080 2,616 1,140 728 726 341 237 266

Average Asset Size (000s) 206,559 7,363 32,130 73,711 158,418 353,610 696,292 2,803,440

12-MONTH GROWTH

Net Worth Growth 6.87% 1.25% 2.80% 3.88% 5.65% 6.02% 7.22% 8.78%

Loan Growth 10.75% 3.02% 3.95% 6.19% 7.73% 9.59% 11.66% 12.64%

Share Growth 6.74% 1.47% 2.81% 3.65% 4.96% 5.40% 7.36% 8.80%

Member Growth 3.77% -1.24% -0.80% 0.71% 2.10% 2.30% 5.22% 6.59%

CAPITAL

Net Worth/Assets 10.79% 13.84% 11.98% 11.29% 10.72% 10.89% 10.82% 10.60%

Solvency Ratio 115.80% 116.67% 114.06% 113.30% 112.85% 113.93% 114.17% 117.22%

Allow. For Loan Losses/Del. Loans 130.37% 81.67% 84.95% 94.03% 104.01% 111.80% 135.07% 144.39%

Delinquency Ratio 0.71% 1.40% 1.09% 0.90% 0.79% 0.77% 0.63% 0.67%

EARNINGS

ROA 0.75% 0.16% 0.26% 0.37% 0.48% 0.53% 0.58% 0.93%

Non-Interest Income/Ave. Assets 1.31% 0.80% 1.03% 1.25% 1.33% 1.44% 1.40% 1.29%

Net Interest Margin 2.87% 3.13% 2.97% 3.06% 3.06% 3.01% 2.98% 2.78%

Operating Expenses/Ave. Assets** 3.08% 3.57% 3.50% 3.69% 3.66% 3.60% 3.45% 2.74%

Yield on Average Earning Assets 3.55% 3.54% 3.40% 3.56% 3.62% 3.61% 3.58% 3.53%

Cost Of Funds 0.58% 0.35% 0.32% 0.35% 0.40% 0.45% 0.47% 0.68%

PRODUCTIVITY

YTD Income per Employee (000s) $52 $26 $35 $38 $40 $43 $47 $64

YTD Income per Member $136 $62 $86 $101 $114 $125 $138 $156

YTD Operating Exp. per Member $91 $53 $71 $81 $89 $94 $99 $93

Assets per Employee (000s) $4,596 $2,536 $3,369 $3,317 $3,426 $3,671 $4,020 $5,686

YTD Loan Originations ($) per Empl. (000s) $368 $145 $168 $180 $219 $245 $303 $511

MEMBER SERVICE USAGE

Auto Loan Penetration* 18.64% 13.01% 14.59% 15.74% 17.56% 17.88% 19.79% 19.72%

Share Draft Penetration* 55.32% 23.42% 40.06% 46.39% 50.58% 54.55% 57.04% 60.20%

Credit Card Penetration* 17.12% 5.20% 10.54% 12.09% 12.95% 15.29% 15.87% 20.54%

$ Average Share Balance $10,066 $5,110 $7,110 $7,766 $8,583 $9,101 $10,009 $11,398

# of Share & Loan Accts per Member 2.44 1.81 2.10 2.24 2.31 2.39 2.43 2.57

LENDING PROFILE

Loans to Shares 76.01% 54.63% 56.36% 61.53% 68.65% 72.86% 76.95% 80.20%

% of RE Loans to Total Loans 50.40% 19.72% 36.47% 41.15% 45.80% 47.36% 47.58% 53.73%

$ Average Loan Balance $13,833 $7,215 $9,078 $9,644 $11,816 $12,636 $14,149 $15,274

Total Loans per Employee (000s) $2,961 $1,188 $1,661 $1,793 $2,068 $2,319 $2,666 $3,797



CONSOLIDATED IOWA CREDIT UNION FINANCIAL STATEMENT | DATA AS OF MARCH 31, 2016

IOWA

March 2015 March 2016 % Chg

3 Months Ended

March 2015

3 Months Ended

March 2016 % Chg

Assets: Income:

Cash & Equivalents 859,680,016 990,369,715 15.20% Loans 106,385,843 116,697,012 9.69%

Govt & Agencies 1,085,120,253 867,892,407 -20.02% (Less Rebates) 0 0 0.00%

Corporate Credit Union 6,032,222 11,450,690 89.83% Investments 10,490,621 10,382,345 -1.03%

Banks and S&Ls 705,229,581 571,877,832 -18.91% Fee Income 19,810,296 20,430,252 3.13%

Mutual Funds 98,496,071 105,124,295 6.73% Trading & Other Operating 19,508,217 21,403,219 9.71%

All Other Inv & Ins 486,124,710 540,182,200 11.12% Total Income 156,194,977 168,912,828 8.14%

Total Investments, Cash & Cash Eq. 3,240,682,853 3,086,897,139 -4.75%

Expenses:

Real Estate Loans 5,181,623,128 5,816,441,891 12.25% Employee Compensation and Benefits 48,209,451 53,251,651 10.46%

Auto Loans 3,206,490,914 3,700,036,681 15.39% Travel & Conference 975,899 1,034,090 5.96%

All Other Loans 961,604,731 1,122,652,017 16.75% Office Occupancy 6,723,072 6,932,045 3.11%

Total Loans 9,349,718,773 10,639,130,589 13.79% Office Operations 14,094,654 15,671,734 11.19%

Education & Promotional 4,517,000 4,556,390 0.87%

(Loan Loss Allow) (74,900,278) (76,232,725) 1.78% Loan Servicing 7,493,187 8,404,293 12.16%

Professional Services 9,100,560 9,656,995 6.11%

Repossessed Property 15,497,499 13,455,674 -13.18% Member Insurance 85,929 37,207 -56.70%

Land & Buildings 242,340,609 262,370,296 8.27% Operating Fees 420,353 430,877 2.50%

Other Fixed Assets 38,441,528 45,691,851 18.86% Miscellaneous 1,611,412 1,624,721 0.83%

All Other Assets 429,833,746 491,402,737 14.32% Operating Expense Subtotal 93,231,517 101,600,003 8.98%

Total Assets 13,241,614,730 14,462,715,561 9.22%

Prov/Loan Loss 7,772,001 6,926,686 -10.88%

Liabilities & Capital: Operating Expense + PLL 101,003,518 108,526,689 7.45%

Dividends Payable 6,316,347 7,042,191 11.49%

Notes Payable 445,619,680 566,422,898 27.11% Non-Operating Gain (Loss) 704,419 632,595 -10.20%

Reverse Repurchase Agreements 0 0 0.00% Income before Dividends 55,895,878 61,018,734 9.16%

Other Liabilities 97,298,502 115,273,301 18.47%

Total Liabilities 549,234,529 688,738,390 25.40% Cost Of Funds:

Interest on Borrowed Funds 1,789,280 2,027,960 13.34%

Regular Shares & Deposits 3,644,654,193 4,000,665,112 9.77% Dividends 20,422,346 24,083,397 17.93%

Money Market Shares 2,205,724,906 2,294,180,013 4.01% Net Income Prior to Stabilization 33,684,252 34,907,377 3.63%

Share Drafts 1,643,847,385 1,767,356,714 7.51%

IRA & Keogh 663,932,059 721,056,218 8.60% Net NCUA Assessment Expenses 63,829 0 -100.00%

Share Certificates 3,142,733,819 3,468,938,547 10.38% Net Income 33,620,423 34,907,377 3.83%

Total Shares 11,300,892,362 12,252,196,604 8.42%

% Chg

Regular Reserve 392,976,309 440,681,388 12.14% Total Number of Credit Unions 107 96 -10.28%

FASB 115 Valuation Reserve 11,802,957 2,608,831 -77.90% # of FCU's 1 1 0.00%

Undivided Earnings & Other Reserves 964,535,019 1,052,666,621 9.14% # of SCU's - Federally Insured 106 95 -10.38%

Equity Acquired in Merger 22,173,554 25,823,727 16.46% # of SCU's - Cooperatively Insured 0 0 0.00%

Total Reserves & Undivided Earnings 1,391,487,839 1,521,780,567 9.36% Members 1,047,882 1,071,698 2.27%

Total Liabilities & Capital 13,241,614,730 14,462,715,561 9.22% Employees 3,133 3,321 6.00%

YTD Loan Originations 1,377,614,214 1,388,770,068 0.81%

Average Share Balance 10,589 11,148 5.28%

Average Loan Balance 14,054 15,009 6.80%



IOWA CREDIT UNION PEER GROUP PERFORMANCE | ALL IOWA CREDIT UNIONS AS OF MARCH 31, 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 96 43 34 19

Average Asset Size (000s) $150,653 $6,924 $44,060 $666,681

12-MONTH GROWTH

Net Worth Growth 10.08% 3.14% 6.81% 11.74%

Loan Growth 13.79% 5.53% 7.63% 14.91%

Share Growth 8.42% 0.15% 5.24% 9.85%

Member Growth 2.27% -2.94% 2.55% 3.80%

CAPITAL

Net Worth/Assets 10.53% 13.56% 12.40% 10.24%

Solvency Ratio 114.22% 116.51% 114.77% 114.10%

Allow. For Loan Losses/Del. Loans 130.05% 136.79% 82.80% 136.78%

Delinquency Ratio 0.55% 1.10% 0.87% 0.51%

EARNINGS

ROA 0.98% 0.26% 0.72% 1.02%

Non-Interest Income/Ave. Assets 1.19% 0.95% 1.18% 1.19%

Net Interest Margin 2.82% 3.01% 2.96% 2.80%

Operating Expenses/Ave. Assets** 2.84% 3.61% 3.28% 2.77%

Yield on Average Earning Assets 3.75% 3.47% 3.52% 3.79%

Cost Of Funds 0.82% 0.34% 0.42% 0.88%

PRODUCTIVITY

YTD Income per Employee (000s) $51 $27 $38 $54

YTD Income per Member $158 $61 $93 $177

YTD Operating Exp. per Member $95 $53 $69 $103

Assets per Employee (000s) $4,355 $2,647 $3,512 $4,553

YTD Loan Originations ($) per Empl. (000s) $418 $182 $233 $456

MEMBER SERVICE USAGE

Auto Loan Penetration* 26.96% 17.90% 20.25% 28.89%

Share Draft Penetration* 56.77% 28.48% 43.00% 61.32%

Credit Card Penetration* 18.22% 4.17% 7.12% 21.37%

$ Average Share Balance $11,148 $5,028 $7,179 $12,340

# of Share & Loan Accts per Member 2.65 1.89 2.18 2.79

LENDING PROFILE

Loans to Shares 86.83% 56.68% 64.58% 90.25%

% of RE Loans to Total Loans 54.67% 20.07% 37.85% 56.65%

$ Average Loan Balance $15,009 $7,400 $10,726 $15,800

Total Loans per Employee (000s) $3,204 $1,292 $1,961 $3,471



12-MONTH SHARE GROWTH NET WORTH/ASSETS

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

1 Du Pont Employees 10.69% $2,888,912 1 Webster City Municipal 32.71% $469,855

2 MA Ford Employees 8.79% $1,362,293 2 Morrison Employees 31.84% $1,588,150

3 Town And Country 7.28% $16,474,914 3 St. Ludmilas 28.68% $380,463

4 St. Athanasius 6.95% $563,585 4 KAH 28.66% $1,796,871

5 Aegis 6.89% $12,053,778 5 Gas & Electric Employees 28.23% $5,633,488

6 Polk County Schools Employees 6.81% $9,823,195 6 Warren 24.15% $4,199,048

7 Consumers 6.55% $5,700,399 7 NGPL Employees 23.44% $3,322,386

8 Burlington Municipal Employees 6.32% $4,385,790 8 Eaton Employees 23.27% $2,535,291

9 Davenport Police Department 5.70% $3,657,732 9 SECU 21.36% $2,150,980

10 Des Moines Water Works 5.67% $1,473,238 10 Chicago Central and Commerce 20.17% $7,039,650

12-MONTH LOAN GROWTH RETURN ON ASSETS

Credit Union Loan Growth* Loans Credit Union ROA Assets

1 Des Moines County Postal 24.67% $1,564,718 1 Eaton Employees 2.93% $2,535,291

2 Aegis 20.33% $10,896,910 2 Des Moines Fire Department 2.84% $5,045,553

3 St. Ludmilas 19.68% $256,292 3 Aegis 1.71% $13,746,411

4 St. Athanasius 18.40% $590,238 4 Gas & Electric Employees 1.67% $5,633,488

5 Village 18.31% $7,743,916 5 ETS 1.34% $2,513,959

6 NGPL Employees 17.03% $338,629 6 St. Athanasius 1.32% $665,828

7 The Hub-co 15.26% $6,820,796 7 Burlington Municipal Employees 1.29% $4,891,467

8 Polk County 15.03% $4,048,151 8 Webster City Municipal 1.25% $469,855

9 Webster City Municipal 14.63% $149,502 9 Family Community 1.19% $18,001,885

10 Town And Country 14.26% $15,603,726 10 Leeco 1.12% $3,678,761

12-MONTH MEMBER GROWTH LOANS/SHARES

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

1 SECU 6.96% 768 1 St. Athanasius 104.73% $665,828

2 MA Ford Employees 5.28% 319 2 Eaton Employees 102.06% $2,535,291

3 River Community 3.31% 3,437 3 Polk County 95.54% $5,032,235

4 Aegis 2.89% 3,450 4 St. Ludmilas 94.92% $380,463

5 Dubuque Postal Employees 2.86% 288 5 Town And Country 94.71% $18,735,831

6 Du Pont Employees 2.16% 474 6 Muni Employees 92.16% $698,535

7 Town And Country 1.60% 2,352 7 Aegis 90.40% $13,746,411

8 North Western Employees 1.53% 1,192 8 Waterloo Firemen's 89.55% $2,006,322

9 Quaker Oats 0.34% 1,789 9 Allen Hospital Personnel 88.27% $5,618,104

10 Allen Hospital Personnel 0% 1,615 10 Quaker Oats 83.77% $8,612,732

IOWA CREDIT UNION LEADERS | ALL IOWA CUS UNDER $20 MILLION IN ASSETS AS OF MARCH 31, 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 Cornerstone Community 14.62% $19,944,587 1 Employees 19.20% $88,236,046

2 Telco-Triad Community 14.23% $77,967,767 2 Iowa Heartland 18.54% $22,873,624

3 Affinity 13.83% $84,760,580 3 Cent 16.26% $42,384,835

4 Des Moines Police Officers 13.64% $44,285,043 4 Casebine Community 15.57% $34,403,824

5 Sioux Valley Community 8.69% $23,641,158 5 Power Co-op Employees 15.52% $31,296,793

6 Fort Dodge Family 8.66% $24,664,972 6 Advantage 15.34% $64,773,071

7 N. W. Iowa 8.01% $39,964,977 7 Sioux Valley Community 15.09% $27,963,768

8 Cent 7.63% $35,366,634 8 Capitol View 14.83% $33,254,541

9 Midwest Community 7.27% $26,289,707 9 Des Moines Police Officers 14.73% $52,307,399

10 River Valley 7.26% $51,686,054 10 Public Employees 14.61% $26,934,582



1 Holy Ghost Parish 33.77% $377,642 1 Bent River Community 3.14% $21,621,734

2 Telco-Triad Community 29.02% $48,219,446 2 Employees 1.96% $88,236,046

3 Des Moines Police Officers 20.46% $33,755,037 3 Sioux Valley Community 1.75% $27,963,768

4 5 Star Community 17.80% $19,494,433 4 Power Co-op Employees 1.60% $31,296,793

5 N. W. Iowa 15.83% $26,373,988 5 Affinity 1.38% $96,966,036

6 Cent 15.14% $28,448,787 6 Des Moines Police Officers 1.27% $52,307,399

7 North Star Community 14.97% $44,488,635 7 Tradesmen Community 1.26% $49,488,340

8 Affinity 14.84% $73,713,434 8 Peoples 1.10% $31,582,888

9 Lennox Employees 13.93% $19,077,893 9 Advantage 0.99% $64,773,071

10 Cornerstone Community 13.51% $12,765,641 10 Cent 0.98% $42,384,835



1 Des Moines Police Officers 28.13% 3,621 1 North Iowa Community 93.40% $61,826,314

2 Cornerstone Community 11.17% 5,752 2 IntegrUS 91.26% $20,185,986

3 Cent 10.41% 4,623 3 Affinity 86.97% $96,966,036

4 Holy Ghost Parish 7.86% 1,194 4 Cent 80.44% $42,384,835

5 N. W. Iowa 7.22% 4,780 5 Members Community 79.65% $56,469,800

6 Sioux Valley Community 6.07% 2,778 6 Capitol View 79.02% $33,254,541

7 Fort Dodge Family 3.80% 3,058 7 Peoples 78.86% $31,582,888

8 Power Co-op Employees 2.77% 1,782 8 5 Star Community 76.86% $28,395,932

9 Meridian 2.47% 3,283 9 Des Moines Police Officers 76.22% $52,307,399

10 Employees 2.35% 7,496 10 Metco 73.70% $29,721,936

IOWA CREDIT UNION LEADERS | ALL IOWA CUS BETWEEN $20 MILLION AND $100 MILLION IN ASSETS AS OF MARCH 31, 2016



BETWEEN $20 MILLION AND $100 MILLION





1 University Of Iowa Community 25.43% $2,699,516,794 1 Cedar Falls Community 15.01% $102,236,787

2 1st Gateway 11.64% $108,677,982 2 Dupaco Community 14.83% $1,377,395,417

3 Premier 11.25% $135,810,281 3 Citizens Community 13.55% $192,561,959

4 Ascentra 9.22% $304,858,864 4 The Family 12.32% $148,333,265

5 Greater Iowa 8.39% $329,540,068 5 DuTrac Community 11.98% $630,719,624

6 Alliant 8.22% $102,909,722 6 Financial Plus 10.60% $169,418,530

7 Veridian 7.79% $2,614,914,066 7 Alliant 10.54% $115,951,560

8 Community 1st 6.50% $507,040,883 8 Veridian 10.18% $2,952,163,809

9 Dupaco Community 4.95% $1,146,780,324 9 First 10.11% $113,872,767

10 Collins Community 4.59% $748,976,404 10 Ascentra 10.02% $382,261,455



1 University Of Iowa Community 26.00% $3,046,657,339 1 Dupaco Community 1.86% $1,377,395,417

2 Members1st Community 16.63% $74,428,629 2 First 1.61% $113,872,767

3 Collins Community 16.52% $694,736,968 3 Cedar Falls Community 1.52% $102,236,787

4 Premier 15.90% $116,736,731 4 University Of Iowa Community 1.50% $3,349,122,285

5 DuTrac Community 14.36% $415,976,701 5 1st Gateway 1.09% $129,264,348

6 Veridian 12.65% $2,188,923,782 6 Premier 1.02% $154,132,096

7 1st Gateway 10.25% $102,080,854 7 Citizens Community 0.92% $192,561,959

8 Dupaco Community 10.22% $819,873,739 8 Collins Community 0.81% $936,379,161

9 Linn Area 10.13% $283,906,322 9 Linn Area 0.80% $364,897,272

10 Greater Iowa 9.84% $273,038,502 10 Alliant 0.78% $115,951,560



1 University Of Iowa Community 7.64% 136,195 1 University Of Iowa Community 112.86% $3,349,122,285

2 Dupaco Community 5.87% 90,776 2 First 108.78% $113,872,767

3 DuTrac Community 5.19% 44,964 3 Linn Area 97.29% $364,897,272

4 Veridian 4.56% 196,830 4 Community 1st 95.49% $574,809,073

5 Community 1st 4.55% 55,598 5 1st Gateway 93.93% $129,264,348

6 Alliant 4.44% 10,773 6 Collins Community 92.76% $936,379,161

7 Ascentra 4.28% 35,909 7 Ascentra 90.48% $382,261,455

8 Collins Community 4.06% 68,905 8 Premier 85.96% $154,132,096

9 Premier 3.26% 15,645 9 Citizens Community 85.64% $192,561,959

10 Community Choice 2.01% 44,537 10 Community Choice 84.35% $449,359,763

OVER $100 MILLION



IOWA CREDIT UNION LEADERS | ALL IOWA CUS OVER $100 MILLION IN ASSETS AS OF MARCH 31, 2016

1q 2016 - credit union league...reaching $217,600 as of march 2016. total existing-home sales...

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