Title: CredAbility Consumer Distress Index for Grand Rapids-Wyoming, MI (MSA) (DISCONTINUED) Series ID: CCDIOA24340Q156N Source: CredAbility Nonprofit Credit Counseling & Education Release: CredAbility Consumer Distress Index (Not a Press Release) Seasonal Adjustment: Not Seasonally Adjusted Frequency: Quarterly Units: Percent Date Range: 2005-01-01 to 2013-01-01 Last Updated: 2013-05-17 2:01 PM CDT Notes: Overview of the Index The Index is a quarterly comprehensive picture of the average American household’s financial condition. Built by assessing the key elements of financial health and distress, it converts a complex set of factors into a single, easy to understand number. Scope and History The index measures the U.S., all 50 states and more than 70 MSAs. The national and state versions date back to 1980 and the MSA versions date back to 1990. Public Data and Proprietary Methodology We use more than 65 data points from government, public and private data and a proprietary methodology for compiling, combining and evaluating data. With nearly 50 years of experience and insight into helping consumers in financial distress, we know the biggest causes of distress, how people react to financial challenges and proven strategies for regaining control. (Note: Our client data is not a data source for the Index) Measured on a 100 Point Scale Financial distress is measured on a 100 point scale and a score under 70 indicates financial distress. The lower the score equals more distress, a weaker financial position, more urgency to act, takes longer and is harder to resolve, and increases the probability of needing a third party help to resolve. The Index score is tied to one of 5 general rating categories, which reflect the strength and stability of the consumer’s position. Less than 60 Emergency / Crisis 60 – 69 Distressed / Unstable 70 – 79 Weakening / At-Risk 80 – 89 Good / Stable 90 and Above Excellent / Secure What Does the Index Measure? We measure the 5 categories of personal finance that reflect or lead to a secure, stable financial life—Employment, Housing, Credit, Household Budget and Net Worth. All are equally important, so have given each category equal weighting. Employment. Stable income is the foundation of any family’s finances. This category measures the impact of unemployment and underemployment on financial health. Key Measures: Unemployment, Underemployment Sample Data Source: Department of Labor, Bureau of Labor Statistics Housing. Safe, affordable housing is a priority for all families. This category measures how consumers are paying their mortgage/rent and the impact of housing costs on their finances. Key Measures: Mortgage and Rental Delinquencies, Housing as Percent of Budget Sample Data Source: National Delinquency Survey Credit. Responsible use of credit creates more borrowing options and lower costs. This category assesses the strength of credit scores and how well families manage their credit. Key Measures: Credit Scores, Trade Line Utilization, Credit Delinquencies, Per Capita Bankruptcies Sample Data Source: National Credit Bureau Household Budget. Spending less than you make is the daily choice that leads to long-term success. This category measures families’ spending patterns and saving for emergencies. Key Measures: Disposable Income, Savings, Consumer Confidence Sample Data Source: Department of Commerce, Bureau of Economic Analysis Net Worth. Strong, positive net worth creates options and independence. This category measures how well consumers are strengthening their personal balance sheets. Key Measures: Household Net Worth, Net Worth versus Funds Required for Long-Term Needs (e.g. retirement) Sample Data Source: Federal Reserve Flow of Funds, Survey of Consumer Finances DATE VALUE 2005-01-01 73.995545446956 2005-04-01 73.488756399300 2005-07-01 72.068658923533 2005-10-01 75.667663537911 2006-01-01 77.045823796802 2006-04-01 76.309955998192 2006-07-01 74.982241450302 2006-10-01 75.014977001800 2007-01-01 74.325790956820 2007-04-01 71.444544444524 2007-07-01 71.427185168917 2007-10-01 72.312248422060 2008-01-01 69.076005420551 2008-04-01 70.188960793632 2008-07-01 66.017280010259 2008-10-01 68.939529047496 2009-01-01 63.864594290750 2009-04-01 66.358213133197 2009-07-01 64.899918031293 2009-10-01 64.915172763753 2010-01-01 64.636002771486 2010-04-01 64.054493311959 2010-07-01 65.164761076740 2010-10-01 66.183820351223 2011-01-01 66.045154262898 2011-04-01 67.434771768854 2011-07-01 66.350988692717 2011-10-01 67.852993920893 2012-01-01 67.910677930622 2012-04-01 69.847516967126 2012-07-01 70.214120000000 2012-10-01 73.127419896244 2013-01-01 70.394380597890