CHICAGO, Dec. 10 /PRNewswire/ — TransUnion.com released today the results of its analysis of trends in the credit card lending industry for the third quarter of 2008. The report is part of an ongoing series of quarterly consumer lending sector analyses focusing on credit card, auto loan and mortgage data that may be found on TransUnion’s Web site.StatisticsAverage bankcard borrower debt (defined as the total bankcard debt per bankcard borrower) increased nationally 1.57 percent to $5,710 from the previous quarter’s $5,621, and 6.0 percent compared to the third quarter of 2007 ($5,387). The highest state average bankcard debt was in Alaska at $7,827, followed by Nevada at $6,636 and Tennessee at $6,568. The lowest average bankcard debt was found in Iowa ($4,277), followed by North Dakota ($4,403) and West Virginia ($4,517). Bankcard debt is the total balance of bank issued credit cards for an individual consumer.The steepest increases in average bankcard debt over the previous quarter occurred in Wyoming (4.96 percent), Delaware (4.12 percent) and Arizona (3.12 percent). Maine experienced the largest drop in its average credit card debt (-1.4 percent), followed by North Dakota (-1.12 percent) and Alaska (-0.57 percent).Nationally, the ratio of bankcard borrowers delinquent on one or more of their bankcards increased to 1.09 percent in the third quarter of 2008, up 4.8 percent over the previous quarter. However, on a year-over-year basis the national delinquency incidence rate has risen 5.8 percent from 1.03 percent in the third quarter of 2007. Incidence of delinquency was highest in Nevada (1.79 percent), followed closely by Florida (1.45 percent) and Mississippi (1.45 percent). The lowest bank card delinquency incidence rates were found in North Dakota (0.70 percent), Vermont (0.70 percent) and Utah (0.76 percent). On a positive note, four states showed a decline in their quarter-over-quarter delinquency incidence rates. Wyoming’s delinquency rate dropped the most (-9.1 percent), followed by Alaska (-6.7 percent), Nebraska (-4.5 percent), and Maine (-1.1 percent).Analysis”As expected, bankcard delinquency is again on the rise after experiencing two consecutive quarters of decline,” said Ezra Becker, principal consultant in TransUnion’s financial services group. “Although financial institutions have been undertaking proactive measures to mitigate risk in their portfolios, the continued deterioration in the financial and labor markets is having a negative impact on the ability of consumers to repay their debt obligations. Those consumers with high mortgage debt (expensive first- and second mortgages with adjustable rates and /or home equity lines of credit) may opt to utilize whatever cash reserves are available to keep their houses rather than pay off any debt on the credit card obligations.”In addition, the third quarter of 2008 saw a drop in the nation’s disposable income per capita and an increase in unemployment, putting additional burden on the consumer’s ability to repay credit card debt. However, the significant drop in energy prices that accelerated in September may have mitigated the increase in delinquency, as the diminishing demand for crude oil started to show at the local gas pump,” added Becker.ForecastTransUnion’s forecasting models for the national 90-day delinquency rate suggest a possible flattening or minimal increase in the fourth quarter of this year as consumers take stock of the recent bad economic news and curtail their expenditures for the holiday season – at least relative to prior years. However, as economic conditions worsen and consumer confidence continues to deteriorate due to the ongoing economic crises, we see an upward trajectory in the national credit card delinquency rate for 2009 – reaching as high as 1.3 percent or 1.4 percent by year end.As for state projections, Nevada (1.78 percent) is still anticipated to experience the highest average delinquency rate by the end of 2008, while North Dakota and Vermont are expected to show the lowest level of delinquency (0.69 percent).TransUnion’s Trend Data databaseThe source of the underlying data used for this analysis is TransUnion’s Trend Data, a one-of-a-kind database consisting of 27 million anonymous consumer records randomly sampled every quarter from TransUnion’s national consumer credit database. Each record contains more than 200 credit variables that illustrate consumer credit usage and performance. Since 1992, TransUnion has been aggregating this information at the county, Metropolitan Statistical Area (MSA), state and national levels.About TransUnionAs a global leader in credit and information management, TransUnion creates advantages for millions of people around the world by gathering, analyzing and delivering information. For businesses, TransUnion helps improve efficiency, manage risk, reduce costs and increase revenue by delivering comprehensive data and advanced analytics and decisioning. For consumers, TransUnion provides the tools, resources and education to help manage their credit health and achieve their financial goals. Through these and other efforts, TransUnion is working to build stronger economies worldwide. Founded in 1968 and headquartered in Chicago, TransUnion employs more than 3,600 employees in more than 25 countries on five continents. www.transunion.com(link is external)
Heading into the last weekend of Big Ten play, Minnesota isthe only conference team that knows it will be playing its last game of theseason on Saturday.Apparently no one bothered to tell Ernie Wheelwright.Despite boasting a 1-10 record (0-7 in conference play),Minnesota’s top-scoring receiver remains unfazed going up against No. 24Wisconsin this Saturday in Minneapolis.”We give every team respect,” Wheelwright said. “(Wisconsin)played their hearts out and beat Michigan this year. So we definitely give themrespect, but we’re going to go out here and put our pants on the same way theydo and strap on our helmets the same way they do it and just go out there andplay ball.”With five losses by a combined 16 points including an overtimeand double-overtime loss by a point each, the Gophers’ record could be seen asmisleading (though their lone victory came in triple-overtime). As far asputting points up on the board, this Minnesota team is what Big Ten fans havegrown accustomed to, scoring at least 31 points in five of 11 games thisseason. A big reason for that is Wheelwright. He is second on the team with 59receptions and 683 yards, and is fourth in the conference in receivingtouchdowns with nine, trailing only Indiana’s James Hardy (15), Michigan’sMario Manningham (11) and Ohio State’s Brian Robiskie (10).At 6-foot-5 and 215 pounds, it comes as no surprise theColumbus, Ohio, native is able to use his body to gain positioning on defensivebacks.”Being a big, physical, tall receiver in the Big Ten — ithas its advantages,” Wheelwright said.Wheelwright was able to use his size to his advantage whenhe played Wisconsin for the first time in 2004. In the 38-14 Badger victory,Wheelwright was a bright spot for Minnesota, catching six balls for 83 yardsand a touchdown. In the last two meetings between these teams, however,Wheelwright has caught just four balls for a combined 52 yards.”Definitely the offense the last couple of years had reallychanged, and we were really running the ball a lot,” Wheelwright said. “Myfreshman year we had a running offense, but we still threw the ball downfield.This year it’s a totally different offense from the last two years that weplayed Wisconsin.”I’m just going to go out there and play my heart out like Ido every Saturday.”In four wild years with Minnesota, Wheelwright has learnedto never stop playing until the final whistle blows.”As Minnesota Gophers, we’ve seen it all,” he said. “There’sbeen pretty much nothing we haven’t seen.”Two games came to mind.At last year’s Insight Bowl Minnesota held a 31-point leadon Texas Tech in the third quarter and ended up losing. And holding a three-pointadvantage with 30 seconds left against Wisconsin two years ago, JonathanCasillas blocked a punt, and Ben Strickland recovered it in the end zone forthe game-winning touchdown.So according to Wheelwright, there’s nowhere else to go butup.That statement could arguably apply to Minnesota footballduring Wheelwright’s tenure, but might be more appropriate when talkingspecifically about the Badgers, against whom the Gophers are 0-3 inWheelwright’s first three seasons. Despite that, he still recognizes thehistory between these two teams.”I think it’s one of the best rivalries in collegefootball,” Wheelwright said. “It’s definitely a little more special justknowing about the tradition between Minnesota and Wisconsin and just knowingthat playing on the field, there’s going to be a lot of guys on the Wisconsinteam from Minnesota and a lot of guys from Wisconsin on the Minnesota team.”Wheelwright appreciates the rivalry enough to admit a winwould certainly take some of the sting of this season away.”It wouldn’t be (a great win) because it’s the end of theseason; it’d be a great victory because it’s over Wisconsin.”Regardless of what happens Saturday, Wheelwright seems tohave little regret looking back at his college career.”I’ve enjoyed every moment once all is said and done becauseup until now I’ve had a great college career,” Wheelwright said. “I’ve had goodtimes, and I’ve had bad times. I can say that I’ve played in some of the biggames and made some of the biggest plays and some of the tough catches, so Ifeel like I had a great college career.”With one game before the book is shut on his college footballcareer, Wheelwright has one more opportunity to add an exclamation point to hislegacy. And what better way to end it against his rival, Wisconsin.”I just can’t wait to face them,” Wheelwright said.
Facebook55Tweet0Pin0Submitted by Ronelle Funk Insurance, Inc. Ronelle Funk, president and CEO of Ronelle Funk Insurance, Inc., was recently recognized by the Thurston County Multiple Listing Service Association (MLSA) with its “2016 Affiliate of the Year” award. The award was presented at the large business organization’s annual Officer Installation and Holiday Social earlier in December at the Hotel Red Lion in Olympia. Ronelle Funk is the president and CEO of Ronelle Funk Insurance, Inc. with multiple locations in Thurston County. Photo courtesy: Ronelle Funk Insurance.“Ronelle is well-respected in our community and participates in many community and charity events,” 2016 MLSA President Rae Anne Toth explained. “Her business success reflects the respect that she’s earned, having grown significantly—enough to require opening her second insurance office in Lacey. She is a stellar example of a strong business woman that younger women can look up to and learn from. She is a wonderful asset to our community.” Funk owns and manages two of the area’s Allstate Insurance offices, one in the city of Lacey and another in Yelm. She has been a resident of Thurston County for 29 years and attended South Puget Sound Community College (SPSCC), later graduating from the University of Washington with a bachelor’s degree in psychology. In 2005, Funk earned her master’s degree in mental health and counseling from Saint Martin’s University. She has advised people on their insurance needs for the last 18 years.A member of the Allstate Against Abuse Team, Funk joined efforts to help victims break free from domestic violence through financial education and empowerment. She is a Yelm Community Schools Business Partner and sponsors local baseball and tee-ball teams, Yelm Dollars for Scholars, the Nisqually Home and Car Show, the YWCA and many other events and organizations. She and her family participate in and sponsor the annual Olympia Toy Run, joining motorcyclists that donate money and toys to the Salvation Army for children in need.Ronelle Funk is very active in community building and charitable events such as the Olympia Toy Run. Photo courtesy: Ronelle Funk Insurance.Funk has served as the president of the Yelm Chamber of Commerce and was named its 2014 Business of the Year. Ronelle Funk Insurance was also recognized as the Best Insurance Agency in the Nisqually Valley in 2010 and Allstate customers voted it number one in customer service within a five-state region. Her business has been nominated as the “Best of South Sound” Insurance Agency by The Olympian newspaper readers. “This MLSA award is very meaningful to me,” said Funk. “The organization is an amazing local group of professionals that serve the real estate industry and have a great read on our communities. Like so many MLSA members, my company and staff truly care about the families and households that trust us to help them protect their most important assets and we want to give back to the place where we live and work.” Thurston County’s MLSA is a networking group of nearly 200 professional members and affiliates that include real estate brokers, loan officers, inspectors, insurance agents, builders/contractors, movers, interior designers and other real estate industry services. The group meets Tuesday mornings for breakfast at Pellegrino’s Tyee Event Center in Tumwater, Wash.