Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Catalyst Loan growth will rise--slowly--with jobs
PLANO, Texas (3/26/12)--Credit unions likely won't see any immediate impact soon on loan demand, even though the Labor Department reports new claims for unemployment benefits totaled 348,000 for the week ending March 17, says Brian Turner of Catalyst Strategic Solutions.

Downward trends in unemployment and benefit claims are positive signs for alleviating what is putting a damper on consumer spending and economic growth, noted Turner in the Texas Credit Union League newsletter, LoneStar Leaguer  (March 23).  Catalyst is an arm of Catalyst Corporate FCU.

Upward trends lately have helped increase consumer confidence, but that is not enough to entice most people to open their wallets, Turner said. Consumer spending continues to be on a 1.4% annualized pace, far from the 2.6% pace at the same time a year ago. Retail sales are at a 6/5% pace, down from 7.5% annual pace this time last year.

If the nation can continue to experience stability in benefit applications, credit unions could potentially see loan demand turn around sooner than most anticipate, Turner said. Until that time, however, "we can expect a few more vehicle loan applications to come in and certainly a steady flow of mortgage refi applications," he concluded.


RSS print
News Now LiveWire
.@RepDennyHeck to @NWCUA Amplify conference audience: "More often than not, CUs are part of the solution"
15 hours ago
LA Laker and NBA Legend Earvin "Magic" Johnson was the keynote speaker Tuesday @CCULReach, hosted by the Cal/Nev #CreditUnion Leagues
15 hours ago
.@growfinancial's #salsa sensation spices up seed giveaway #NewsNow http://t.co/rKmWVwwzot
16 hours ago
.@TheNCUA Office of Small CU Initiatives soon--maybe Nov.--will launch website for #CUs 2 research #creditunion vendors or service providers
16 hours ago
.@TheNCUA says late 2Q Call Report filers 2 pay total of $17,111 in penalties.Individual penalty range is $52 to $1,824;median is $256. 2of2
16 hours ago