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HR 3606 (CARD Act 21-day rule fix) signed into law by president, as was the homebuyer tax credit extension
Scam warning: Kennedy Space Center FCU members being targeted via phony text messages by ID thieves in Florida. http://ow.ly/zWCE
Financial Stability Improvement Act markup, which began today, will continue after Vets. day, Hse. Fin. Svcs. Chair Barney Frank says.
In Mon NN: 24 SE Wisc. CUs will now have control of $71.5M in loans and lender-owned homes after Central States Mtge went into receivership.
Detroit Edison Credit Union and NuUnion Credit Union announce their intent to merge http://tinyurl.com/y8bslvg
CU savings flow: a mixed bag, says CUNA
WASHINGTON (10/15/08)—Credit Union National Association (CUNA) Chief Economist Bill Hampel predicted Tuesday that credit unions, overall, will start seeing a marked influx of share deposits by next year.
To date, he said, CUNA economists have not seen a "huge flight" of savings to credit unions as a result of the country's economic turmoil.
"As many credit unions have said that they have experienced greater than normal savings growth in the last six weeks as have said they have had weaker savings growth," Hampel reported. He said the same can be said of credit union experience on the lending side of the business.
However, the CUNA economist added that he predicts that over the next year, credit unions overall will see a substantial deposit increase because consumers won't be spending as much and will be trying to build up their savings.
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