MADISON, Wis. – A series of “healthy” transitions in 2004 may help credit unions in a number of areas in 2005. “We have moved from a very stimulative economic environment early in the year with tax rebates and historically low interest rates to a neutral position for fiscal and monetary policy,” said Dave Colby, CUNA Mutual chief economist. Colby cautioned credit unions not to expect further tax cuts but do look for interest rate increases. The industry shifted from a “deep dependency” on fixed-rate first mortgage loans to a surge in variable rate loan portfolios and new auto loans in 2004, he added. “All through the transition credit unions remain financially strong and will continue to be healthy in 2005,” Colby said.

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