LAS VEGAS — Pressures on net interest margins show no sign of change in the months ahead "with little on the horizon that would push longer yields higher," according to a top Callahan & Associates executive and economist.
Addressing the annual National Directors' Convention here, Melanie El-Sabaawi, executive vice president of the Washington consulting firm, stressed also that in the months ahead control of operating expenses "will be a critical factor differentiating credit union performance."
Today's consumer, she said, is looking "increasingly stressed by a high debt load that is heavy by historical standards." There has been little movement in wages with rising prices, she said, and as a result consumers are not saving "and they may not be able to borrow much more either."
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