Every day, six days a week, a credit union closes and never re-opens. That has been going on for many years. More than 3% of credit unions have annually closed for the past decade. By 2025, the United States will have around 4,500 credit unions.
Do the math. Look to your right. Look to your left. One in three credit unions will vanish by 2025. Find out more in this week's preview from next week's print edition.
Financial trends show that parity between loan and deposit growth is slowing returning to credit unions, according to CUNA.
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...
Lending, liquidity and tax exemption are three areas where the search for the Grand Bargain could impact credit unions.
SNL Financial tracking firm says total loans were $27.48 billion then, $41.64 billion in second quarter 2012.
While business rates are not in the current Senate bill, a 10% increase in postage rates could cost credit unions $30 million annualized.
Major mortgage lenders appear to be continuing their strategic retreat from the U.S. housing finance market, leaving credit unions with a significant opportunity that they may not be willing or able to take.
With less than four months left in 2011, this year could easily go down as the period when consumers shifted hard from buying to paying down debt and stockpiling rainy day funds.
Folks slowed savings generally in July, but kept putting money in the IRA accounts.