New York Credit Unions Post Impressive Numbers in 2013 Callahan Directory

Contact: Ron McLean, Association SVP
(800) 342-9835, ext. 8191, cell: (518) 469-5945
Ronald.McLean@cuany.org

(February 13, 2013 - Albany, NY) - New York credit unions are well-represented in the 2013 Callahan Credit Union Directory, outperforming national industry averages and claiming "top performer" spots in several categories. The report was published by Callahan & Associates.

In a state-by-state analysis of credit union performance, New York credit unions ranked among the top 10 for: asset growth; share growth; loan growth; membership growth; average share balance; average loan balance and total assets. And, despite economic challenges, New York credit unions have posted five-year compound growth in membership, assets, shares, loans and capital.

Membership Growth

  • SEFCU ranked 19th nationwide for 12-month membership growth, posting 20.01-percent growth (compared to the national industry average of 2.27 percent).
  • Both SEFCU and St. Joseph's Parish Buffalo ranked in the top 25 for five-year membership growth.

Shares

  • St. Joseph's Parish Buffalo FCU, Island FCU, Triboro Postal FCU and Melrose CU were among the top 25 performers for five-year share growth.
  • Lufthansa EFCU, Progressive CU, Melrose CU, LOMTO FCU, Self Reliance (NY) FCU, Montauk CU, NCPD FCU, United Nations FCU and SUMA (Yonkers) FCU were among the top 25 performers in average share balance.

Earnings & Capital

  • Progressive CU ranked 16th for operating return on assets (ROA) and first for net worth-to-assets as of June 30, 2012.
  • Utica District Telephone EFCU ranked ninth in the net worth-to-assets category.

Service Revenue-to-Assets

  • Bethex FCU ranked first, and Actors FCU ranked seventh.

Return on Equity (ROE)

  • St. Joseph's Parish Buffalo FCU ranked 17th.

Loan Growth

  • St. Joseph's Parish Buffalo FCU was ranked 22nd for 12-month loan growth, posting a 35.26-percent increase (compared to the national industry average of 3.11 percent). The credit union was also ranked 20th for five-year loan growth, posting a 20.96-percent increase.

Average Loan Balance

  • Melrose CU, Progressive CU, LOMTO FCU, Montauk CU and Self Reliance New York FCU were all among the top 10 leaders nationwide.

Loan-to-Share Ratio

  • Progressive CU ranked first with a ratio of 115.89 percent (compared to the national industry average of 66.93 percent).
  • Melrose CU, LOMTO FCU and Montauk CU were also among the top 25 performers in this category.

Outstanding Private Student Lending

  • Capital Communications FCU was a leader, ranking 10th nationwide.

Mortgage Lending

  • New York credit unions outperformed the national averages for YTD first mortgage origination market share and junior mortgage origination market share.
  • Utica-Rome, Binghamton and Ithaca were among the top 10 metropolitan areas for credit union mortgage lending market share.
  • Genesee Valley FCU ranked 10th for 12-month growth of first mortgage loans outstanding, posting 190.58-percent growth.
  • Bethpage FCU ranked fifth for first mortgage originations YTD, reporting $722.6 million as of June 30, 2012.
  • Bethpage FCU ranked seventh in mortgage servicing portfolios.
  • Hudson Valley FCU ranked 21st in mortgage servicing portfolios.

Credit Card Lending

  • Matteawan FCU ranked second for credit card concentration, posting a 52.94-percent ratio of credit card loans/total loans.
  • Erie County ECU ranked 25th with a ratio of 22.62 percent. The national industry average was 6.34 percent.

Member Business Lending

  • Actors FCU ranked eighth for 12-month member business loan growth. The credit union grew MBLs by 259.80 percent.
  • Melrose CU ranked first for MBLs outstanding, reporting $1.4 billion.
  • Progressive CU, Bethpage FCU, Visions FCU, Self Reliance (NY) FCU and LOMTO FCU were also among the top 25 performers in this category.

"With so many impressive statistics, it's clear that New York is leading the way within our industry," said William J. Mellin, president/CEO of the Credit Union Association of New York. "We congratulate the many New York credit unions that have distinguished themselves as top performers."

The Credit Union Directory features more than 300 pages of industry analysis, peer group comparisons and other resources.

The Credit Union Association of New York has served as the trade association for the state's credit unions for 95 years. New York credit unions have assets of more than $61 billion and serve 4.7 million members. To learn more about the Association, visit www.cuany.org.

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