The Point: Feb. 11, 2013

NY CUs post impressive numbers in 2013 Callahan CU Directory

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 and includes data as of June 30, 2012.

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 from June 2007-June 2012.

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 1st for net worth-to-assets as of June 30, 2012. Utica District Telephone EFCU ranked 9th in the net worth-to-assets category.

In the category of service revenue-to-assets, Bethex FCU ranked first, and Actors FCU ranked seventh. And in the category of 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 from June 2007-June 2012.

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

Progressive CU ranked first in loan-to-share ratio, 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.

Capital Communications FCU was a leader in outstanding private student loans, ranking 10th.

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, and Hudson Valley FCU ranked 21st.

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. From June 2011-June 2012, the credit union grew MBLs by 259.80 percent.

Melrose CU ranked first for MBLs outstanding, reporting $1.4 billion as of June 30, 2012. 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. To learn more, visit the Callahan & Associates website.

The Association partners with Callahan & Associates to provide member credit unions with a quarterly New York Credit Union Performance & Trends Report as a benefit of Association membership. To view recent quarterly reports, log in to the Member Resources section of the Association website.

CUs can still participate in statewide CMN Hospitals fundraiser

Credit union employees across the state will donate funds and dress down this Valentine's Day as part of the Credit Union Association of New York's first-ever statewide fundraiser to benefit Children's Miracle Network Hospitals. Credit union leaders can still participate by visiting the Association's website and completing the provided instructions.

Participation is free, and all funds raised by each credit union will benefit the Children's Miracle Network Hospital that serves its community.

Young pros meeting up in Buffalo next week

Buffalo area young professionals are invited to attend a free meet-up Feb. 19 at JP Bullfeathers (1010 Elmwood Ave., Buffalo, NY 14222). Attendees will gather at 5:30 p.m. to network, learn about the Credit Union Association of New York's Young Professional Commission (YPC) and explore opportunities for professional development and grant funding within the credit union movement.

For more information or to RSVP, visit the event webpage.

To learn more about meet-ups and other statewide young professional initiatives, visit the YPC's YP Network website.

National industry news & CUNA reports

To view today's issue of CUNA News Now, click here.

To view the most recent CUNA Regulatory Advocacy Report, click here. (CUNA member log-in/registration required.)

To view the most recent CUNA Legislative Update, click here. (CUNA member log-in/registration required.)