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TRANSCRIPT
CUNA Economic Update
August 2018
Jordan van Rijn,
Senior Economist
CUNA Economic Update is sponsored by
-2.8
2.5
1.6
2.21.7
2.62.9
1.5
2.3 2.2
4.1
3.02.5
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Q1 2018 Q2 2018Forecast
2019Forecast
U.S. Economic GrowthPercent Changes in GDP
Source: BEA
6.7
1.2
-1.2
1.2
4.8
7.3
10.4 10.5 10.610.0
9.69.0
7.0
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Q1(YOY)
2018Forecast
2019Forecast
Credit Union Loan GrowthPercent Changes
Source: NCUA and CUNA
Components of Compensation: Credit Unions vs. Banks
72.961.7
7.524.3
9.66.2
10.0 7.9
0
20
40
60
80
100
Credit Union Bank
Tota
l C
om
pe
nsa
tio
n (
%)
Base Salary Performance-based Retirement & Deferred Other Income
$6.5
$7.7
$8.6
$9.1
$9.3
$10.1
$11.8
$14.0
$19.0
$43.7
$76.1
$0.0 $10.0 $20.0 $30.0 $40.0 $50.0 $60.0 $70.0 $80.0
UBS
Goldman Sachs
Morgan Stanley
Credit Suisse
BNP Paribas
RBS
Wells Fargo
Deutsche Bank
Citigroup
JPMorgan Chase
Bank of America
Total Fines Paid at Biggest Banks 2008 - 2017Billions of Dollars
Source: Keefe, Bruyette & Woods
CUNA Economic Update is sponsored by