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NCUA posts new economic update video
Learn about 2015 Economic Outlook, Third-Quarter Credit Union Performance
ALEXANDRIA, VA (December 23, 2014) — The consensus of economic forecasters is that the economy will continue to grow and labor markets will continue to improve in 2015. For federally insured credit unions, continued improvements in the economy and falling unemployment rates will likely bring continued solid loan growth, good loan quality and moderate increases in deposits.
The newest video in the agency’s Economic Update YouTube series is available at no cost here. It covers the latest economic activity, the 2015 economic outlook and the performance of federally insured credit unions during the third quarter.
While federally insured credit unions have generally benefited from the national economy’s strong performance and most should find the conditions in 2015 to be supportive, interest rate risk is a key concern for some.
“The improving economy has implications for monetary policy and interest rates,” NCUA Chief Economist John Worth said. “While nothing is certain, the improving economy is likely to bring changes to the interest rate environment in the coming year that could prove challenging to some credit unions.”
Credit unions are encouraged to take advantage of NCUA’s interest rate risk resource webpage to better understand the risk those changes present.
NCUA is the independent federal agency created by the U.S. Congress to regulate, charter and supervise federal credit unions. With the backing of the full faith and credit of the United States, NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of more than 98 million account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions. At MyCreditUnion.gov and Pocket Cents, NCUA also educates the public on consumer protection and financial literacy issues.