Go to:

November 2018
< Oct Dec >
Leaguer Email Subscription

You are not currently subscribed. Click Subscribe below to receive the Leaguer email.

CUNA Economic Update Predicts Climbing Interest Rate in December
Monday, November 20, 2017 6:45 AM

CUNA's November 2017 Economic Update highlights impressive credit union financial and operating metrics and a strong consumer sector but also explores potential ramifications of coming changes including the potential for sharply increased stock market volatility and faster-than-previously-expected rate increases. 

The most recent credit union-specific indicators reflect continued solid results. Memberships were up 0.4 percent in September and 4.3 percent over the past year. Overall, credit unions have added 4.7 million memberships since the start of the year. In addition, credit union loans were up 0.7 percent in September and 10.9 percent over the past year, with all key loan portfolios continuing to increase at healthy rates.

“The Fed’s Open Market Committee recently met leaving the target Federal Funds interest rate unchanged,” said Schenk, VP of economics and statistics and host of the Economic Update video. ”Even so, there’s near-universal agreement that rates will be headed up in December, and with tax reform and a big change in Fed leadership looming, the future seems a bit more muddled.” 

The Economic Update is sponsored by the CUNA CFO Council to highlight the latest developments in the national economy and examine credit union financial and operational performance.