NCUA Q2 2020 Quarterly Data Summary Report release immanent

QED
  |     |   122 posts since 2013

The report just dropped. This is a very important event, long awaited, because this is the first quarterly data set which reflects three full months of pandemic impact on the credit unions.

This new report will trigger issuance of new ratings by Ken, Bauer, and Weiss. My hope is these new ratings, with any luck, might all become available during the next two weeks.

For those with certificates of deposit at any USA credit union, this is the big one. Keep your fingers crossed!!

Banks?

Sorry, I have nothing on banks. This is because virtually all my money is in credit unions. But I'm sure the FDIC must be on a similar path as is the NCUA.

Note for anyone actually wanting to view this brand new report, here is the URL:

https://www.ncua.gov/analysis/credit-union-corporate-call-report-data/quarterly-data-summary-reports

Myself?  I'm waiting for the ratings.  I'll let the pros do the analysis.

ETA

Egg on face.  So help me God I thought the report was there only ten minutes ago.  Now it is gone.  We're dealing with the government here.  Possibly somebody messed up, put out the report early, and they had to pull it back.  There is no way for me to know what happened.  I expect the report to reappear soon.  It is due.




Ken Tumin
  |     |   6,090 posts since 2009
Thanks QED for the update. We'll keep an eye out for the NCUA reports.

Regarding the banks, we have just finished importing the Q2 call reports from the FDIC. All of our health and financial data for banks are now based on June 30 data. You can see a listing of Q2 Texas ratios for bank at https://www.depositaccounts.com/banks/health.aspx#texas

I'll have a complete write-up soon on the Q2 health grades and how they've changed from Q1 and 2019 Q4.
alan1
  |     |   490 posts since 2015
I just looked at the health ratings for some of the banks. For certain banks, the appearance of the institution's page is the same as usual. For others (Synchrony and Marcus) it looks very different and is much less useful to me, I hope this is a temporary glitch.

(I should add that I haven't looked at those pages in awhile, so it may not be a new change.)
alan1
  |     |   490 posts since 2015
The pages for Synchrony and Marcus now have the usual look.
alan1
  |     |   490 posts since 2015
Bauer Financial has updated its rating for banks.

"Bank star ratings are based on 06/30/2020 financial data; credit union star ratings are based on 03/31/2020 financial data."
https://www.bauerfinancial.com/star-ratings/
QED
  |     |   122 posts since 2013
The cutoff for USA credit unions to have their quarterly information in to the NCUA was back on 26th of July. They have had since then to issue the pivotal Q2 call report, and all we hear are crickets. "Party hearty" has clearly been the NCUA watchword for the last more than one month.

Ken reports the Q2 FDIC bank data was released timely. But the NCUA is clearly more akin to Paul Masson. They will release no call report before its time. And only God Himself knows when that time might be. All we can do is wait.
alan1
  |     |   490 posts since 2015
QED wrote: "They [the NCUA] will release no call report before its time."
(italics in original)

The June 30, 2020 call reports are available on the NCUA website. They contain the information used by the rating services to assign grades to individual credit unions.

The NCUA has released what QED terms "the pivotal" call report -- the second quarter of 2020. It did so a few days ago.

It's now up to Bauer Financial, DepositAccounts.com, Weiss, and anyone else to evaluate the call reports released by the NCUA. Perhaps the rating services may wish to wait for aggregate quarterly reports to also be released -- I don't know. But for people who are interested in reports for those credit unions where they are members, the info is now available. And you can compare the numbers in the current report to the report for the first quarter of 2020, as well as to earlier quarterly reports.

Aggregate quarterly reports ("Quarterly Data Summary"; "Financial Trends in Federally Insured Credit Unions"; "NCUA Quarterly U.S. Map Review"; "Industry at a Glance") have not yet appeared on the NCUA website.

For you do-it-yourselfers out  there:
Just go to https://mapping.ncua.gov/ResearchCreditUnion.aspx
and enter info about the credit union(s) that interest you; then click on "Find".
On the next page, click on "View".
On the next page, click next to "Call Report" and then go to "Select Cycle Date" and choose which report you want. The first choice will be "June-2020".
Click on "Download".

(You can dig even deeper into any credit union, using the NCUA website, than what I've outlined above, but it's a start. I'm not interested in additional related info available on the NCUA's website.)
 
QED
  |     |   122 posts since 2013
Thank you, alan1, for your excellent and most helpful post. That is great news!! Apparently I posted an erroneous link in the OP. Sorry about that.  We all are indebted to you for putting me right.

Am so happy to learn the rating services are already on the job. This is super. It will be our first real look at pandemic impact on the credit unions. Fingers are crossed.
alan1
  |     |   490 posts since 2015
I don't know whether the rating services "are already on the job". One or more of them may wish to wait for the aggregate quarterly data for all credit unions to be released before tackling the job.
QED
  |     |   122 posts since 2013
Oh, dear. OK, gotcha. Back to square one I guess. We will get the new CU ratings some day . . . . . I hope!
Choice
  |     |   224 posts since 2020
Use to be, “ no news is good news!” Now two months after 2nd quarter close, “no news is bad news!”
alan1
  |     |   490 posts since 2015
The NCUA released the 2020 second quarter call reports in August.

It has now released the "Quarterly Credit Union Data Summary" for the second quarter of 2020.
https://www.ncua.gov/files/publications/analysis/quarterly-data-summary-2020-Q2.pdf
blazer9
  |     |   109 posts since 2019
Is there a individual CU lookup link?
alan1
  |     |   490 posts since 2015
Just go to https://mapping.ncua.gov/ResearchCreditUnion.aspx
and enter info about the credit union that interests you; then click on "Find".
On the next page, click on "View".
On the next page, click next to "Call Report" and then go to "Select Cycle Date" and choose which report you want. The first choice will be "June-2020".
Click on "Download".

(You can dig even deeper into any credit union, using the NCUA website, than what I've outlined above, but it's a start. I'm not interested in additional related info available on the NCUA's website.)
blazer9
  |     |   109 posts since 2019
Dang! Health ratings of owned 20 FIs up goodly.
Add-ons look safe for next 2mo
blazer9
  |     |   109 posts since 2019
never mind,Found it
Thanks,
alan1
  |     |   490 posts since 2015
DepositAccounts.com has updated its credit union health reports and ratings to reflect call reports for the second quarter of 2020.
Kaight
  |     |   408 posts since 2011
Ken's new rating for GTE Financial is B+ based on Q2 data.

Does anyone know if this is a change from Ken's prior rating which was based on Q1 data?
alan1
  |     |   490 posts since 2015
DepositAccounts.com rating for GTE is unchanged.
Kaight
  |     |   408 posts since 2011
Thanks, alan1.
alan1
  |     |   490 posts since 2015
In my _very_ uneducated opinion, it is quite possible that GTE's unchanged rating reflects data that does not bode well for the credit union's health.

It's not possible to know the formulas used by various rating services to arrive at their grades. But it seems that a major factor for DepositAccounts.com is "Deposit Growth". It's one of four listed factors. Deposit growth can be a useful metric for considering the health of financial institutions generally. But it can be very dangerous when it comes to assessing the health of institutions that offer, or used to offer, high-yielding CDs.

Reviewing the last two GTE call reports, the following is clear: During the second quarter of 2020, GTE experienced huge deposit growth in the area of longer-term CDs. I suspect that much of that big increase is a result of money being added to certificates yielding close to, or over, 3%.

Looking at the DepositAccount.com "Health Grade Components" for GTE, there's an A+ for Deposit Growth. That might have resulted in a higher grade for GTE than if there had been less phenomenal growth in longer-term high-yield CDs. I don't know.
QED
  |     |   122 posts since 2013
What alan1 has written about GTE certainly makes sense to me. We will know more, I hope, once Bauer and Weiss have released their new ratings.
QED
  |     |   122 posts since 2013
Credit where due:

At this writing, of the major rating services, Ken alone has updated his credit union ratings so as to reflect the most recent Q2 financial data provided by the NCUA. From the other two services: crickets

You might point out it was a holiday weekend and the two tardy services will most likely show up later this week with their ratings updates. Fair enough. But I would point out we are more than a week into September.  That end of June financial data is already ten pandemic weeks old.

Q3 is winding quickly to a close and from two of the major services we still do not have, for credit unions, their Q2 ratings.
alan1
  |     |   490 posts since 2015
Bauer Financial often releases its credit unions ratings in the middle of the month.

As to release of credit union ratings based on data from the second quarter of 2020, here's what Bauer Financial wrote on August 31, 2020:

"Bank Star-Ratings have all been updated based on June 30, 2020 financial data. (Credit Union Star Ratings will be out in a couple of weeks.)"

https://www.bauerfinancial.com/2020/08/31/new-bank-star-ratings-this-week-2/
alan1
  |     |   490 posts since 2015
from Bauer Financial, Sept. 10, 2020:

"BauerFinancial.com is currently updating its website with New Credit Union Star Ratings and Data!"

https://www.bauerfinancial.com/star-ratings/?inst=C

I think (not certain) that the updated ratings will be available no later than Friday, September 11.
alan1
  |     |   490 posts since 2015
Bauer Financial credit union ratings updated on September 10, 2020:

"Bank star ratings are based on 06/30/2020 financial data; credit union star ratings are based on 06/30/2020 financial data."

https://www.bauerfinancial.com/star-ratings/
Kaight
  |     |   408 posts since 2011
So Bauer has now caught up with Ken. Finally. But about a week later.

And Weiss still has not caught up.

The credit unions generally, based on both Ken's ratings and now Bauer, at end of June were doing better than I feared might be the case, given the pandemic's impact.  I was wrong and, I guess, too cautious.  We will know a little bit more once Weiss finally posts new ratings;  soon, I hope.

I had thought all the money pouring into add-on CDs at GTE, Freedom CU, and PSECU might be creating havoc.  Guess not.  Perhaps fewer members than I thought would be the case bought those pivotal add-ons as insurance.  I also thought borrowing, given the pandemic, would be way down.  Again, apparently I was wrong.

Course end of June was more than two months ago;  both pandemic months.  We will not have the Q3 rating outcomes for three months, give or take.  I'm still cautious.  But certainly so far so good.
Kaight
  |     |   408 posts since 2011
Weiss Research today finally released their CU ratings based on Q2 financial data. This data release is wildly late, far, far behind Ken and also behind even Bauer. This is not at all helpful given we are in a pandemic!

Focus will now shift to ratings based on Q3 data, today being the final day of Q3. I expect those new ratings to emerge late in November.


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