Callahan & Associates is collecting two brand-new data sets from credit unions: Non-Interest Income (NII) General Ledger data and Impact data. Explore both data sets below, and how to get involved.
These data sets are “give to get.” After you submit your credit union’s data, you’ll be able to compare your credit union to others in the industry – using our entire data set. Callahan clients will be able to explore the entire data set via Peer-to-Peer and non-clients will receive a custom scorecard.
These data sets are “give to get.” After you submit your credit union’s data, you’ll be able to compare your credit union to others in the industry – using our entire data set. Callahan clients will be able to explore the entire data set via Peer-to-Peer and non-clients will receive a custom scorecard.
Two New Data Sources For Credit Unions
IMPACT DATA: How Are Credit Unions Measuring Their Impact?
IMPACT DATA: How Are Credit Unions Measuring Their Impact?
Credit unions play an essential role in the lives of their employees, members, and communities. To better showcase these efforts, the Callahan team has recently added credit union impact to our list of data sets in Peer-to-Peer. Impact data allows Callahan to develop metrics and best practices for credit unions. The ultimate goal of the impact initiative is to empower cooperatives to better articulate their value through a mission-focused lens.
To submit your impact data:
To submit your impact data:
- Download the Impact Data template here.
- Complete the Excel template with your credit union’s data.
- Refer to this Data Dictionary if you have questions.
- Email the completed file back to [email protected].
High-Level Findings From Our Impact Data Set
- 35% of reporting credit unions match charitable donations funded by their employees.
- Reporting credit unions have contributed an average of $14,086 to match employee donations.
- 43% of members ages 18 or older had at least $400 in checking and regular savings deposits as of Dec. 31 last year.
- 92% of reporting credit unions have offered special loan programs for members impacted by natural disasters, COVID-19, government shutdowns, or other emergencies.
NON-INTEREST INCOME: Where Are Credit Unions Finding Sources of NII?
NON-INTEREST INCOME: Where Are Credit Unions Finding Sources of NII?
Non-Interest Income (NII) data consists of two major categories: Fee Income and Other Operating Income. Within these broader categories exist several subcategories that, while not listed on a 5300 Call Report, are important. These subcategories include NSF/Overdraft fees, CUSO earnings, mortgage origination fees, and more.
By tracking these specific subcategories, credit unions can better monitor their various NII streams, how these revenues have changed over time, and how their peers compare.
To submit your NII Data:
By tracking these specific subcategories, credit unions can better monitor their various NII streams, how these revenues have changed over time, and how their peers compare.
To submit your NII Data:
- Download the NII Data Template here.
- Complete the Excel template with your credit union’s data.
- Email the completed file back to [email protected]
- PEER-TO-PEER USERS: You can upload your data. View instructions here.
High-Level Findings From Our NII Data Set
- Other operating income totals grew 33.5%, led by 24.1% growth in interchange income as COVID-19 protection measures encouraged card transactions over cash exchanges and consumer spending rebounded from quarantine-induced lows.
- Though a smaller portion of total other operating income, income from secondary market sales increased 25.7% year-over-year as credit unions sold low-yielding mortgages to reduce long-term interest rate risk.
- Reporting credit unions charged an average of $13 in NSF/Overdraft fees per member share account through the first six months of 2021.
- Total fees refunded fell 64.3% year-over-year as credit unions scaled back peak-COVID fee waiving programs.
QUESTIONS
If you have questions about either data set, how to upload your data, or how to access it – use this form to contact us and a member of our team will get back to you soon.
If you have questions about either data set, how to upload your data, or how to access it – use this form to contact us and a member of our team will get back to you soon.
Contact Us: 800.446.7453 | [email protected] | www.callahan.com