Thursday, April 4, 2024

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%

4 comments:

  1. Look at SECU! Exceeding industry standards in one area!

    ReplyDelete
  2. The word of the day today kids is Mediocrity!
    Please use it in a sentence ....
    SECU has now slipped into mediocrity ....
    Thank you Gym ... very good...



    ReplyDelete
    Replies
    1. Best Mediocre Credit Union!!

      Delete
    2. Miss them #TeamSecu emails from ole Jimmy Haze.

      Delete