The plight and protection of small U.S. credit unions came in for new scrutiny last week following a controversial think tank study by Celent, the Boston research firm, finding that CUs under $50 million are fast disappearing under the weight of tech products, competition, compliance and their own “inefficiencies.”
CUNA economist: Despite size, small credit unions surviving at same rate as small banks.
Study saw demise of small CUs approaching.
SAN ANTONIO — The economy will improve slightly, but consumers will continue to be cautious about spending and talking on new debt, CUNA's top economists said at a session during America's Credit Union Conference.
SAN ANTONIO — The economy will improve slightly but consumers will continue to be cautious about spending and new debt, CUNA's top economists say.
A death sentence for credit unions? An impetus to change the business model? Depends on who you ask.
Reality Check was the aptly chosen name for the New Jersey Credit Union League’s one and one-half day Atlantic City conference. Over the densely packed schedule of deep-dive presentations on topics of current interest to credit union executives, the several hundred attendees heard over and over two stark realities.
ATLANTIC CITY, N.J. — Do not expect an easy fix for the US economy, said Mike Schenk, vice president of economics at CUNA, at the “Credit Union Reality Check” conference in Atlantic City.
The stark words jumped off the page of the report. "Consumer inflation rose 0.5% in December, the highest monthly gain since June 2009," according to an advisory prepared by Brian Turner of Southwest Corporate Investment Services in Plano, Texas.
This year, 57% of American consumers plan to spend as much or more than they did last year at the holidays -compared with 54% last year-according to a survey released by CUNA and the Consumer Federation of America.