Nearly 700,000 Department of Defense civilian employees beganonce-a-week furlough days Monday that will cut their pay by roughly15%.
NCUA Chief Economist John Worth said that over the next three months, it's“reasonable to assume” the pay cuts will have an impact on loangrowth at affected credit unions.
Worth said that while just less than 2% of federally charteredcredit unions have primarily military-based fields of membership,their relatively large size means they represent about 21% offederal credit union assets.
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