CUNA and NAFCU call the FOMC’s decision cautious and optimistic.
Trades react to the Fed’s long-awaited interest rate raise announcement, which takes effect Dec. 17.
FOMC votes to leave the funds rate unchanged at zero; rate is likely to rise based on economic forecasts.
Economists also predict loan and membership growth for credit unions through 2016.
Fed Open Market Committee could raise that possibility if rates move down again in December.
FOMC continues rate at between zero and .25% and securities purchases at $85 billion per month.
Credit union CEO says low rates continue to tighten interest income spread while industry remains "averse" to boosting fee income.
For some members, unstable home values, job insecurity and volatile stock market fears may be more of a concern than rates at their credit unions.
Fed chair to address Senate today, House on Wednesday in semiannual report to Congress.
The Federal Reserve’s Open Market Committee announced Wednesday it will keep the target range for the federal funds rate at 0% to 0.25%.