NORTHERN NEVADA
1Q 2021 Credit Union Snapshot

7 Locally Headquartered Credit Unions

Five counties include: Churchill, Elko, Mineral, Washoe, and Carson City

 

Members: 145,000 (6 percent increase)

• 8,300 new members
• Hit a record
• Up 53 percent from 95,000 in 2011 (last historical peak was 96,000 in 2010)
   

Loans: $1.5 billion (35 percent increase)

• Increased 188 percent from $529 million in 2012
• Hit a record (last historical peak was $687 million in 2008)
• 68 percent loan-to-deposit ratio (loaned out)
• *Percentage increases and/or decreases represent dollar amount changes
• **A small portion of total loans may be through “loan participations”
• ***Total loans do not include the much smaller sub-categories of: a) personal loans (including signature, secured, unsecured, line of credit, and emergency); b) “other” vehicle loans (including motorcycles, watercrafts, motor homes, trailers, boats, all-terrain vehicles, and utility task vehicles); and c) student loans

• First-mortgages: 59 percent increase
• Hit a record of $517 million
• Increased 272 percent from $139 million in 2009 (last historical peak was $151 million in 2008)
   
• HELOCs/home equity loans (combined category): -2 percent decrease
• Declined from a record high ($79 million in 2020) to $77 million (not seen since late 2019)
• Increased 79 percent from $43 million in 2014 (last historical peak was $75 million in 2009)
   
• New auto loans: 3 percent increase
• Rose to $172 million (not seen since 2009)
• Increased 207 percent from $56 million in 2013 (record high was $189 million in 2008)
   
• Used auto loans: 10 percent increase
• Hit a record of $368 million
• Increased 156 percent from $144 million in 2012 (last historical peak was $202 million in 2008)
   
• Credit card lending: -10 percent decrease
• Declined from a record ($8.4 million in 2020) to $6.8 million (not seen since early 2017)
• Increased 36 percent from $5 million in 2009 (intermittent historical peaks were $6.9 million in 2008 and 7.6 million in 2016)
   
• Business loans: 120 percent increase
• Reached $304 million (includes landlord real estate loans)
• Category has fluctuated greatly between 2006 – 2021 from $10 million – $304 million

Deposits: $2.2 billion (35 percent increase)

• Increased 157 percent from $867 million in 2016
• Hit a record (last historical peak was $909 million in 2009)
• ($2.5 billion in assets)
• *Percentage increases and/or decreases represent dollar amount changes

• Checking accounts (share drafts): 42 percent increase
• Hit a record of $702 million
• Increased 100 percent from $351 million in 2019 (category has always risen since 2006)
   
• Savings accounts (regular shares): 47 percent increase
• Hit a record of $915 million
• Increased 342 percent from $207 million in 2008 (last historical peak was $250 million in 2006)
   
• Money market accounts: 20 percent increase
• Hit a record of $441 million
• Increased 148 percent from $178 million in 2013 (last historical peak was $196 million in 2010)
   
• Certificates of deposit: -8 percent decrease
• Declined from an intermittent peak ($118 million in 2019) to $105 million (not seen since early 2018)
• Increased 38 percent from $76 million in 2014 (record high was $305 million in 2008)
   
• IRA/Keogh accounts: 14 percent increase
• Rose to $54 million (not seen since 2011)
• Increased 15 percent from $47 million in 2018 (record high was $73 million in 2009)

Operations: $22 million spent

Quarterly monies spent on employee payroll, benefits, property, office equipment, occupancy, and vendor contracts (estimated annual figure is $87 million)

• About 490 individuals were employed (1 percent increase)