The California and Nevada Credit Union Leagues can assist you with statistics, analysis of trends, comments on current legislative and regulatory issues, and information on consumer finance. In addition, we can help you connect with credit union leaders within the two states.

Contact us:

Matt Wrye, Media Relations Manager; 909-212-6043; mattw@ccul.org
Tina Ramos-Ingold, Media Relations Specialist; 909-212-6050; tinar@ccul.org 

CA-NV Leagues Release Latest Local Data Trends

Ontario, California (Jan. 9, 2018) — Several local credit unions headquartered in 12 regions across California and the two main regions of Nevada launched into 2018 like they did this time last year: hitting new records in membership, loans and deposits—or at least making major inroads to where they stood 10 years ago as the “Great Recession” began.

How long can this trend last? And how will different credit unions perform given their size, geography and membership?

“The trends will last as long as the economy continues to perform well,” said Dwight Johnston, chief economist for the California and Nevada Credit Union Leagues. “The big regional areas of Southern California and the Bay Area will perform the best, and larger credit unions will outperform smaller credit unions. Percentage growth rates in loans should slow a bit, but only because the base number is bigger. Also, Nevada credit unions should enjoy another year of good growth. The state still has an ample pool of available workers, and reasonable home prices make it attractive for relocation."

The one area of concern is the tight labor market. Employers are having increasing difficulty finding workers, which will be a limiting factor for the economy “to some degree,” Johnston said.

Another limiting factor is in first-mortgages. The supply of homes in most markets are reaching historic lows and could tighten further as homeowners “stay put” due to the upcoming decrease in property tax deduction stemming from the new tax law, he said. Also, the refinance market will continue shrinking if interest rates keep rising.

But overall, “There is nothing that suggests an economic slowdown is imminent—making the overall picture for credit unions bright,” he said. “In fact, the business-skewed tax bill should accelerate growth through at least the third quarter of this year.”

Johnston does have concerns the economy may start running out of steam by late 2018. Consumer spending might be “good,” but the growth rate could still disappoint. If Wall Street reacts negatively to these growth numbers, businesses could somewhat pull back on spending and hiring plans.

“As long as inflation remains contained, I think the Federal Reserve might surprise us this year by raising short-term interest rates less than forecasted,” he added. “But that isn’t necessarily good news for longer-term rates. The supply-demand equation for bonds will shift dramatically next year as central banks reduce or eliminate their securities-buying programs. At the same time, the federal government’s deficit will mean a sharp rise in the issuance of bonds. I’m not looking for a bond market meltdown but a return to normal.”

Local CA and NV Trends
How 11.4 million credit union members in California and 354,000 in Nevada are making spending choices on automobiles, higher education, homes, remodeling projects, surviving life events and big-ticket items provides a gauge into what’s happening across both states’ local economies. This is evident in the California Credit Union League’s 3rd Quarter Credit Union Trends Report for 318 locally-headquartered credit unions, as well as the Nevada Credit Union League’s 3rd Quarter Credit Union Trends Report for 16 locally-based credit unions.

Click each region in California to view localized year-over-year credit union trends (3Q 2017) according to National Credit Union Administration (NCUA) call-report data:
Bay Area
California (entire state)
Central Valley
Eastern Sierra Corridor
Inland Empire
Los Angeles County
North Central Coast
Northern California
Orange County
Sacramento County

San Diego County
Santa Cruz County
South Central Coast

Click each region in Nevada to view localized year-over-year credit union trends (3Q 2017) according to National Credit Union Administration (NCUA) call-report data:
Nevada (entire state)
Northern Nevada
Southern Nevada

News Media Contacts: For commentary on the economy and other issues, contact Dwight Johnston, chief economist for the California and Nevada Credit Union Leagues (909-215-3657). For other news-media inquiries, contact Matt Wrye, media relations manager for the California and Nevada Credit Union Leagues (909-212-6043).

The California Credit Union League
The California and Nevada Credit Union Leagues are based in Ontario, CA. They are the state trade associations for 318 credit unions headquartered in California and 16 credit unions headquartered in Nevada (as of third-quarter 2017). The Leagues represents the interests of 11.4 million credit union members in California and 354,000 in Nevada who are member-owners of their credit unions. Credit unions help consumers afford life and prosper!

 

 

Richard Myles Johnson Foundation Receives Kim Bannan Eternal Flame Award

The Richard Myles Johnson (RMJ) Foundation, the Ontario, CA-based state foundation for credit unions in California and Nevada was among those honored at this year’s California and Nevada Credit Union Leagues’ REACH Conference.

The Foundation received the Kim Bannan Eternal Flame Award, which recognizes efforts that contribute to the success and future of “Shapiro Group” credit unions, which have less than $89 million in assets. The awards are named after the Leagues’ late vice president of credit union development and research and information. The organization and its executive director, Tena Lozano, were honored during the annual meeting and convention for the Ontario, CA-based trade association for the two states, held Nov. 5-8 at the JW Marriott Desert Springs in Palm Desert, CA.

This year’s recipient in the organization category, the RMJ Foundation was recognized not only for being the premier credit union organization for youth financial education in the two states, but also for being a partner to the success of small asset-sized credit unions, such as Ridgecrest-based Desert Valleys Federal Credit Union, which nominated the Foundation for the award.

For nearly 60 years, the Foundation has supported credit unions throughout California and Nevada. During the past decade, the RMJ Foundation has transformed itself into a leader in youth financial education, particularly with its 2012 launch of its Bite of Reality youth financial education program.

The Bite of Reality program aims to teach young people the money management by having them take a “real world” test drive complete with a job, money, and the freedom to make their own financial decisions. During an event, participants "purchase" items such as housing, transportation, food, clothing, household necessities, and daycare. When they overspend, they are directed to the "credit union" for much-needed assistance.

In 2016, the RMJ Foundation officially launched a new Bite of Reality app, believed to be the first of its kind for a credit union-sponsored reality fair program. The app streamlined and modernized the program for credit unions and the RMJ Foundation, making it more relatable to young people while still providing the same life lessons it always did.

In accepting the award, Executive Director Tena Lozano said “I am so pleased that the RMJ Foundation has been recognized for our Bite of Reality program and how it helps all credit unions make a difference in kids’ lives; it is so utterly rewarding.”

--CCUL--

Contact Information
Tina Ramos-Ingold
Media Relations Specialist
California and Nevada Credit Union Leagues
909.212.6050
tinar@ccul.org

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