Chairman Ben Bernanke made history this week when he said the Fed would keep long term rates low until unemployment drops to 6.5% or below.
Comments from credit unions express concerns about rates, compliance burden as January effective date approaches.
The amount of money deposited in bank accounts recently reached a new high of $10.3 trillion, according to Market Rates Insight.
In light of the financial challenges faced by credit unions over the past few years and specifically the increasing interest rate risk that comes with many credit unions borrowing short to lend long, the NCUA has refocused its attention on asset-liability management functions.
For some members, unstable home values, job insecurity and volatile stock market fears may be more of a concern than rates at their credit unions.
Joining Metlife and Unum, Prudential is the latest insurer exiting the LTC business, which has become less profitable in low interest rate environment.
When it comes to five-year, new, indirect auto loans, credit unions and banks are running pretty close with their rates.
Nation's biggest CU said its activity split between refinances and new purchases.
Open Market Committee takes no other action to stimulate the economy, but "is prepared."
Open Market Committee keeps interest rates unchanged after Wednesday meeting.