Mike Schenk

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Mike Schenk

Mike Schenk is vice president of economics and statistics for the Credit Union National Association (CUNA). As such, he conducts economic and financial research and provides support for CUNA's governmental affairs and public relations efforts. His analyses regularly appear in publications such as CUNA's Credit Union Magazine and Credit Union Executive.

An expert on the economy and credit union issues with more than 25 years of experience in the financial services industry, he is regularly interviewed by the media for stories appearing in national news outlets, including: The Wall Street Journal, MarketWatch, CNBC, Reuters, CNN, The Washington Post, The New York Times, Dow Jones News Service, and USA Today.

Schenk is also staff liaison to CUNA's Small Credit Union Committee and to the Membership Growth Task Force.

Before joining CUNA in 1992, he was director of research for Financial Research Corporation, where he conducted economic analyses, competitor evaluations, and product-line planning for mutual fund companies. His background also includes six years as director of interest rate risk management at the Chicago-based U.S. League of Savings Institutions. His responsibilities there ranged from helping savings institution executives understand asset- liability and capital management issues, to providing support for the association's lobbying efforts in these areas.

Schenk volunteers as a board member of Summit Credit Union, a $1.5 billion asset credit union, and serves on the credit union’s Asset-Liability Management Committee.

He has a bachelor's degree in economics from St. Mary's College of Minnesota and a Master of Business Administration degree in finance from DePaul University, with a concentration in banking and financial intermediation.

Business Insider
Here’s How a New House Goes from ‘Solid Investment’ to 'Worst Decision Ever’
09/11/2013
Delaying the buying process in hopes of a better rate. Mike Schenk, vice president of economics and statistics at the Credit Union National Association, points out that adjustable ratesare now at rock bottom at about 3 percent. If you really are ready to make the commitment for home ownership, talk to a lender about securing a loan at an adjustable rate instead of a fixed rate.

WalletPop
For First-Time Homebuyers: How to Dodge 5 Costly Rookie Mistakes
09/06/2013
Delaying the buying process in hopes of a better rate. Mike Schenk, vice president of economics and statistics at the Credit Union National Association, points out that adjustable rates are now at rock bottom at about 3 percent. If you really are ready to make the commitment for home ownership, talk to a lender about securing a loan at an adjustable rate instead of a fixed rate.

U.S. News & World Report
5 First-Time Homebuyer Mistakes to Avoid
09/04/2013
Delaying the buying process in hopes of a better rate. Mike Schenk, vice president of economics and statistics at the Credit Union National Association, points out that adjustable rates are now at rock bottom at about 3 percent. If you really are ready to make the commitment for home ownership, talk to a lender about securing a loan at an adjustable rate instead of a fixed rate.

Automotive News
What’s the Credit Union Difference? Low Rates
08/14/2013
Nearly one-third of folks in the United States belong to a credit union, and a lot of those memberships started with an auto loan, says Mike Schenk, senior economist at Credit Union National Association in Madison, Wis. On average, credit unions not only offer lower interest rates on auto loans than banks, Schenk says, they often beat the captives' rates as well.

Medill Reports
First Financial Credit Union Growth In-line with Credit Union Industry
06/05/2013
“People are reacting negatively to the fees and discovering credit unions are their best choice,” senior economist Mike Schenk at the Credit Union National Association said in an interview.

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