Credit unions seem to be gaining new stature in the Federal Reserve system based on new overtures from at least one key district bank, CU officials reported.
The latest Fed inquiry on collection of CU loan and economic data came from the Federal Reserve Bank of New York, which met earlier this month with members of a CU economic coalition headed by Tun Wai, NAFCU's economist/director of research.
In recognizing CUs as economic players in local communities and the business sector, New York Fed staffers expressed newfound interest in accessing CU data following practices in play at the Federal Reserve Bank of Dallas.
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