.
But that's okay, as long as you muck about "in good faith"?
😎 Been featuring some of the "expert analyses" being put forth by commenters in the blog. The "A#1" featured expert has been noted as the "2:13pm/3:16pm commenter" [see 6/27, 6/29, and 6/30 posts here], whose views of the financial performance of SECU don't appear to stand up well to the actual facts. Here's the latest example:
❋ 2:13pm/3:16pm commenter: "3) There is continued referenced to losses at half of industry as part of the justification or benefit of one rate for all [as compared to our "new/new" RBL]. Is there a data point that supports that?"
😎 Well, yes there is! Not sure how far back to go, but the National Credit Union Administration's (NCUA) data base goes back 20 years. So lets try that, using the actual facts! The NCUA, the federal credit union regulator, provides the following annual ratios of SECU loan losses compared to other, large, peer credit unions.
✅ For example: 2004 SECU loan loss ratio: .17%, 2004 CU peer loss ratio: .49% [the lower the # the better!] Got it? Here goes... [red denotes better, superior ratio!]
2004 SECU: .17% CU Peers: .49%
2005 SECU: .17% CU Peers: .48%
2006 SECU: .13% CU Peers: .42%
2007 SECU: .11% CU Peers: .46%
2008 SECU: .13% CU Peers: .79%
2009 SECU: .20% CU Peers: 1.16.%
2010 SECU: .23% CU Peers: 1.10%
2011 SECU: .26% CU Peers: .89%
2012 SECU: .29% CU Peers: .71%
2013 SECU: .21% CU Peers: .52%
2014 SECU: .20% CU Peers: .45%
2015 SECU: .26% CU Peers: .42%
2016 SECU: .33% CU Peers: .47%
2017 SECU: .40% CU Peers: .50%
2018 SECU: .45% CU Peers: .48%
2019 SECU: .43% CU Peers: .46%
2020 SECU: .30% CU Peers: .36%
2021 SECU: .20% CU Peers: .19%
2022 SECU: .35% CU Peers: .24%
2023 SECU: .62% CU Peers: .43%
😎 If you take the time to add up each column of numbers and divide by 20 here are the average loan loss ratios over the last 20 years:
✅ SECU loan loss average: .28% CU peer loan loss average: .58%
... Sorry. That looks to be less than half of "industry standard"...