The wind down of U.S. Central Bridge Federal Credit Union’s payment services “has progressed more smoothly than originally anticipated”, the NCUA said in a recent letter to credit unions.
Agency says ACH to transition completely by Sept. 30 with complete shutdown now expected on or about Oct. 31 instead of Dec. 31.
Problems in Greece, Spain and other Euro zone countries could show up on credit union balance sheets, according to industry economists.
The European financial crisis may be half a world away, but problems there could show up on credit union balance sheets here.
Ideally, one of the end-of-the-year items that should be checked off the list for credit unions with member business loan programs is a review of policy.
Competitive loan pricing and a decline in loan delinquencies have helped create more demand for commercial real estate loans.
A 1.4% decline in loans outstanding in 2010, modest 1.2% increase in 2011 at credit unions linked to how members feel about economy, jobs.
Credit union vehicle loans outstanding have dropped 2.2% so far in 2012 but lending activity is still higher than it was a year ago.
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.
Ask corporate credit union senior executives what keeps them up at night and for many, it’s whether they can grow their business.