N.C. Credit Union Commission Meeting: April 9, 2024 - 10:00 A.M.

 ✅ Dial In Toll Free Number: 1 (984)-204-1487

                   Access Code: 757767261#

  

✅ Excerpt from Administrator Ray's analysis of North Carolina credit unions (see VIII, e).  Note that the one-third+ jump (+34.20%) in delinquent loans is occurring primarily at SECU and not at other N.C. state-chartered credit unions (up only 14.14%, when SECU is excluded). Hard for SECU to keep blaming "the Fed" and "the economy", when other peer N.C. credit unions are faring far better. Some other problem clearly exists.

Including SECU	4Q 2022	4Q 2023	Change
Loans	$33,782,423,352	$37,909,792,862	12.22%
Delinquent Loans	$590,786,406	$792,855,382	+ 34.20%
Loans Subject to Bankruptcy	$99,978,544	$109,251,782	9.28%
Excluding SECU	4Q 2022	4Q 2023	Change
Loans	$4,079,930,954	$4,375,056,111	7.23%
Delinquent Loans	$34,614,519	$39,509,739	+ 14.14%
Loans Subject to Bankruptcy	$3,381,020	$3,695,298	9.30%