WASHINGTON, DC (December 16, 2015) — National Association of Federal Credit Unions (NAFCU) Chief Economist Curt Long issued the following statement today in response to the Federal Reserve’s announcement of an interest-rate increase.
“Today’s announcement that the Fed will commence with liftoff confirms what NAFCU has anticipated for some time now. Looking ahead, the Fed will look to adopt a more gradual pace to rate normalization than it did a decade ago,” said Long. “As far as credit unions are concerned, our forecast is for continued growth in lending in 2016. Households are in a strong position with low unemployment, falling gas prices, low debt service costs and early signs of wage growth.”
“Regardless of the rate environment, credit unions will continue to thrive, and our forecast is for continued growth in lending in 2016,” said Long.
The National Association of Federally-Insured Credit Unions is the only national trade association focusing exclusively on federal issues affecting the nation’s federally-insured credit unions. NAFCU membership is direct and provides credit unions with the best in federal advocacy, education and compliance assistance. For more information on NAFCU, go to www.nafcu.org or @NAFCU on Twitter.
