Credit unions with members directly impacted by Hurricane Sandywill likely experience an increase in loan delinquencies, NCUA Chief Economist John Worth said in theregulator's November video economic update, released Monday.However, Worth also said as storm recovery progresses, homeownersand businesses replacing damaged property may boost loandemand.
|The November economic analysis, available on the NCUA's YouTube channel,also includes economic trends and discussion about the potentialimpact that recent events, like Hurricane Sandy, will have oncredit unions.
|“Overall, the economic statistics released over the past monthhave been modestly better,” Worth said. “The economy is showingsigns of solid economic and job growth which provide key supportfor credit union fundamentals going forward.”
|Economic trends cited by Worth in the video include improvementin the national labor market, consumer confidence and homeprices.
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