How To Use The U.S. Macroeconmic Benchmarks Folder
The U.S. Macroeconomic Benchmark folder is a collection of top-level, macroeconomic data tracked alongside traditional (and related) credit union data from the 5300 Call Report.
This U.S. Macroeconomic Benchmarks folder is a subfolder within Peer Suites Built-In Displays folder.
While benchmarking against your credit union peers is immensely valuable for tracking your own performance, our industry does not operate in a vacuum. Even the most unique and innovative credit unions are in many ways beholden to the environments in which they operate.
For these reasons, Callahan believes it is necessary to understand credit union performance data within the context of the national economic picture. These displays are designed to do just that by comparing key credit union metrics against the underlying macroeconomic metric that is likely impacting everyone’s performance in the area.
The economic data represents the national economy and does not originate from the 5300. These displays are unlike any other displays in Peer Suite, because the macroeconomic data will remain the same no matter who is placed as your primary or in your comparison set. However, the credit union or 5300 data will update to reflect data from your selected primary institution.
You are welcome to compare your own credit union’s performance alongside the national numbers to understand the impacts of the major national trends on local performance. However, it’s important to understand that these are national numbers, and local/regional trends can differ. For total industry performance, it might be helpful to compare the macroeconomic data with our All Credit Unions in the U.S. Peer Group.
For examples on the type of analysis one can do with this data, check out this creditunions.com article: Credit Union Performance Extends Beyond The Balance Sheet. This resource details the types of direction insights that can be derived from these metric comparisons.