| Title: | DCU |
| Notice: | 1996 BoD Election results in 1004 |
| Moderator: | CPEEDY::BRADLEY |
| Created: | Sat Feb 07 1987 |
| Last Modified: | Fri Jun 06 1997 |
| Last Successful Update: | Fri Jun 06 1997 |
| Number of topics: | 1041 |
| Total number of notes: | 18759 |
I am comparing the DCU statement of conditions to others in the area,
particularly those in the high tech industry.
The first is the GenRAD GR Patriot Federal Credit Union:
As of 1/31/92 for Genrad and DCU
Genrad DCU
-------------------- --------------------
% Asset % Asset
Asset $13,886,140 100.0% $346,178,140 100.0%
Surplus
Regular Reserve 653,310 4.7% 4,105,627 1.2%
Undivided Earn 732,778 5.3% 6,296,302 1.8%
Net Income QTD 1,138 0.0% 0.0%
Total Surplus $1,387,226 10.0% $10,401,929 3.0%
Loans to members $5,876,483 42.3% $220,218,490 63.6%
%allow for losses 1.1% 1.0%
YTD
Travel & Meetings $62
Total Op. Exp $24,040
| T.R | Title | User | Personal Name | Date | Lines |
|---|---|---|---|---|---|
| 494.1 | DCU vs Raytheon | SLOAN::HOM | Thu Mar 12 1992 20:01 | 39 | |
This is a comparison between Digital and Raytheon Credit Unions.
Again, the delinquency rate for DCU members is amazingly low!
Note that for Raytheon data is through 2/28 while the DCU data is
through 1/31.
Raytheon DCU
As of 2-28-92 As of 1-31/92
-------------------- --------------------
% Asset % Asset
Asset $224,785,111 100.0% $346,178,140 100.0%
Surplus
Regular Reserve 6,735,160 3.0% 4,105,627 1.2%
Undivided Earn 2,281,454 1.0% 6,296,302 1.8%
Net Inc. & other 1,044,028 0.5% 0.0%
Total Surplus $10,060,642 4.5% $10,401,929 3.0%
Loans to members $120,463,263 53.6% $220,218,490 63.6%
%allow for losses 1.2% 1.0%
Loans
Number 22,461 36,584
$ $121,999,432 $218,867,611
$/loan $5,432 $5,983
Loans delinq (2+ Month)
% of # 1.7% 0.8%
% of $ 0.9% 0.6%
YTD
Travel & Meetings $8,800
Total Op. Exp $1,124,919
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| 494.2 | STAR::CRITZ | Richard Critz, VMS Development | Fri Mar 13 1992 11:56 | 5 | |
RE: .1 Although it may be irrelevant, the fact that Raytheon's CU has a higher delinquency rate may be directly related to the employment situation at Raytheon. | |||||
| 494.3 | STUDIO::JOMALLEY | Fri Mar 13 1992 12:52 | 9 | ||
RE: .2
Do think that the employment situation is better at Digital than it
is at Raytheon?
They call it layoffs, we call it right sizing. Both equal a reduced
abiltiy to make the loan payment.
| |||||
| 494.4 | Raytheon is a Government Contractor | ULTRA::KINDEL | Bill Kindel @ LTN1 | Fri Mar 13 1992 13:47 | 17 |
Re .2:
> Do think that the employment situation is better at Digital than it
> is at Raytheon?
Raytheon and Digital have some VERY fundamental differences in the way
they do business. A large portion of Raytheon is dedicated to specific
government contracts. When a contract ends, so do the jobs for many of
the people who worked on it. As a result, Raytheon has a much higher
turnover rate than Digital.
> They call it layoffs, we call it right sizing. Both equal a reduced
> ability to make the loan payment.
Terminology notwithstanding, this is true. It is the higher turnover at
Raytheon that contributes most directly to their higher delinquency rate.
| |||||
| 494.5 | A VERY OUTDATED view of Raytheon | STUDIO::JOMALLEY | Mon Mar 16 1992 09:14 | 22 | |
>> Raytheon and Digital have some VERY fundamental differences in the way
>> they do business. A large portion of Raytheon is dedicated to specific
>> government contracts. When a contract ends, so do the jobs for many of
>> the people who worked on it. As a result, Raytheon has a much higher
>> turnover rate than Digital.
RE: .4
Your view of Raytheon's corporate policy is quite outdated. Raytheon
did business in the above mentioned fashion ~15-25 years ago. The
hire/fire to fill contract needs is no longer the way Raytheon does
business. I worked for Raytheon for 7+ years (1978-85). I saw many
a contract come and go and never suffered a layoff, nor did the large
majority of the people associated with it. Recently Raytheon has felt
the effect of cutbacks in defense spending and has laid off workers.
The difference between this and the old policy is that neither the
employees or Raytheon expects these positions to be filled in the near
future. Between the years of 1975-1990 peoples jobs at Raytheon were
very stable.
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