‘Twas the night before New Year’s, two-thousand-fifteen,
A most interesting year on the ERM scene.
Consumers were vulnerable to hackers’ reaches,
As merchants were “Targets” of broad data breaches.
Emerging technologies came every day:
EMV, CurrentC, and ApplePay.
Would interchange income survive the onslaught?
Or would the apparent threat amount to naught?
Stories of internal fraud hit the press,
And left many credit unions in a mess.
New capital rules loomed large on the horizon,
Amid fears that interest rates soon would be risin’.
All of these trends are well-known to us all,
And any could prove the unwary’s downfall.
But what of the macro risks CUs should fear?
What might we see in the coming New Year?
The Fed has a new Chair, a notable dove;
What will her Fed’s policy be made of?
A focus on job growth, instead of inflation,
Which could lead to rising rates throughout the nation;