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NAFCU Chief Economist Curt Long statement on Federal Reserve’s announcement to increase interest rates

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.

NAFCU

We provide credit unions with the best federal advocacy, education and compliance assistance in the industry. The National Association of Federally-Insured Credit Unions (NAFCU) is a direct membership association for federally insured credit unions. We are committed to representing, assisting, educating and informing our member credit unions to help them grow, and help grow the credit union industry. Over the years we have been able to build on our foundation, growing stronger with our members and steadfast in our beliefs and focus: providing unwavering federal advocacy, top-rated education, one-of-a-kind compliance assistance and supreme responsiveness. Why? Because we believe credit unions are the best and they deserve the best.  

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