It may be hard to truly gauge whether the majority of members are feeling skepticism toward signs that an economic recovery is well on its way.
In his conversations with industry leaders, credit union economist Dave Colby said he has detected skepticism about an economic recovery.
While Bank Transfer Day helped to boost membership to record numbers, the industry could see an exodus of some of its more profitable members in 2013 if credit unions are not capitalizing on those relationships.
Rather than court new members, some credit unions may focus their resources on building relationships with existing members this year.
It’s no surprise that lending has been in the doldrums for many CUs the past few years but there could be an unexpected jolt triggered by fervor surrounding Bank Transfer Day Nov. 5.
CUNA Mutual Group chief economist says protest cuts across lines, offers opportunity to credit unions.
As members continue to keep their focus on paying down debt, the industry’s savings rate has emerged and remained in a hale and hearty state.
CUNA Mutual Group report says credit union members are favoring share, money market accounts and paying down debt.
Membership growth remains muted, however, by historical standards, CUNA Mutual says in new Credit Union Trends Report.
The latest forecasts for new auto loan originations at credit unions appear to be positive but with some caveats.