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Loan Growth May Plunge Off Fiscal Cliff

Industry economists agree that if the U.S. plunges off the fiscal cliff Dec. 31, credit unions probably wont see any ill effects right away. However, even if a so-called grand bargain is reached between Democrats and Republicans, credit unions could see the loan growth momentum gained this year grind to...

By Heather Anderson | Updated on December 12, 2012

Industry economists agree that if the U.S. plunges off the fiscal cliff Dec. 31, credit unions probably won’t see any ill effects right away. However, even if a so-called grand bargain is reached between Democrats and Republicans, credit unions could see the loan growth momentum gained this year grind to a standstill.

Credit Union Times spoke with five industry economists, the NCUA’s John Worth, CUNA’s Mike Schenk, NAFCU’s David Carrier, the California Credit Union League’s Dwight Johnston and Catalyst Corporate FCU’s Brian Turner. NAFCU Lobbyist Brad Thaler also provided some political perspective.

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