General Session

Mike Schenck

The Economy and Credit Union Lending
Mike Schenck, CUNA

While the U.S. economy is growing an increasing number of credit union lenders are voicing concern about the prospects for loan portfolio growth in 2017 and beyond.  In the post-WWII period, the average duration of U.S. economic recovery is 59 months and the current expansion greatly exceeds that average.  Federal Reserve policy-makers seem focused on raising interest rate targets – which could spell trouble - and recent increases in longer-term market interest rates will almost certainly challenge mortgage portfolio growth.  Mike’s presentation will review how credit unions are responding to current challenges and will explore prospects for credit union lending through 2018.

About Mike Schenck

Mike Schenk is Vice President of Economics & Statistics for the Credit Union National Association & Affiliates. He conducts economic and financial research and provides support for CUNA Governmental Affairs and Public Relations efforts. His analyses regularly appear in publications such as CUNA's Credit Union Magazine and Credit Union Executive.

Schenk has 15 years experience in the financial services industry. Before joining CUNA in 1992, he was Director of Research for Financial Research Corporation, where he conducted economic analyses, competitor evaluations and product-line planning for mutual fund companies.

His background also includes six years as Director of Interest Rate Risk Management at a national trade group serving financial institutions. His responsibilities there ranged from helping executives understand asset/liability and capital management issues, to providing support for the association's lobbying efforts in these areas.

Schenk has a Bachelors degree in Economics from St. Mary's University of Minnesota, and an M.B.A. in Finance from DePaul University, with a concentration in Banking and Financial Intermediation.

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