Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Idaho League Notes Growth of State's CUs
BOISE, Idaho (8/14/13)--A better economy and more new loans have helped improve Idaho credit union performance in 2013, according to the Idaho Credit Union League.
 
The economic and business climate in the state provides a fertile environment for credit unions, Chris Johnson, league president/CEO, told the Idaho Business Review (Aug. 2). Johnson said he is "exceedingly optimistic" about the future of credit unions in the state.
 
Loan demand, which was weak during the recession, has increased, said Gavin Gee, director of the Idaho Department of Finance, which oversees state-chartered credit unions.
 
Idaho Central CU, Chubbuck, was ranked the best-performing credit union in the U.S. in 2012 by SNL Financial, a financial information firm in Charlottesville, Va., said ICCU CEO Kent Oram in the article.
 
An improved housing market is driving credit union performance, both Oram and Gee said. Mortgage refinancing initiated the recovery, but has slowed recently, Oram added.
 
A balanced state budget and lucrative state bond market also helped, Johnson said.
 
One worry for Idaho credit unions is the increasing burden of regulations. Rules related to the Dodd-Frank Act and Consumer Financial Protection Bureau (CFPB) are chief concerns, Oram noted.
 
The Credit Union National Association continues to work with the U.S. Congress, the CFPB and the National Credit Union Administration to minimize regulatory burdens on credit unions. Recently, CUNA reiterated that CFPB and NCUA should conduct detailed cost-benefit analyses on proposed and final regulations to curb the "creeping complexity" of burdensome regulations on credit unions--especially small credit unions.


RSS print
News Now LiveWire
#UMich consumer confidence index bounces back in August http://t.co/LJ1l7mk4Ty
13 minutes ago
IPSOS survey: Canada's #creditunions top for member service 10th consecutive year @CanadianCentral http://t.co/dSipMd4qnz
40 minutes ago
#NewsNow Home-state visits connect lawmakers, credit unions http://t.co/Ti7HdH9gFo
44 minutes ago
#NewsNow: IOSCO head says the next major financial shock will come from a cyberattack. http://t.co/CrtMdYuTqY
47 minutes ago
Branches draw members to join, mobile keeps them happy: @CFIGroup satisfaction index. See #NewsNow http://t.co/RthFQykNBO
59 minutes ago