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Dwight Johnston, Vice President and Chief Economist for the California and Nevada Credit Union Leagues
The 2012 Housing Market: Bouncing Back

updated 05/17/13 12:36 PM
Economist Looks at 'Bubble' Talk
The “story of the year” in 2012 in California and Nevada was the housing market recovery, one that continued in the first quarter of 2013. Median prices surged by roughly 20 percent last year—a rise that was fueled by extraordinary demand by investors.

The confluence of Wall Street-type money managers and record low interest rates have caused some behaviors that are characteristic of a “bubble” market. Primarily, multiple offers on homes in many areas have become the rule rather than the exception. As buyers have seen the supply of homes on the market dwindle, they've been aggressive in bidding above asking prices.

Should we worry about a bubble?

Click here to continue reading Dwight Johnston's Economic Perspective column on page 16 within the April/May edition of Credit Union Digest!

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SAN MATEO CU CEO TO RETIRE updated 08/29/14 04:49 PM
Barry Jolette Served 27 Years
San Mateo CU board of directors announced its CEO Barry Jolette will retire after 27 years of service. He has demonstrated a close dedication to the credit union movement through his various leadership roles on local, national, and international levels. He served as the California Credit Union League Chairman in 1996; and in 1997, he was elected to the Credit Union National Association board of directors and named its chair in 2001 (until 2003)..

NCUF RELEASES ANNUAL REPORT updated 08/29/14 02:44 PM
Activities From Last 12 Months
The National Credit Union Foundation (NCUF) released its 2013-2014 Annual Report, entitled “Improving People’s Financial Lives through Credit Unions.” The report highlights the organization's program and grant activities during the past 12 months.

Will Streamline Reports for CUs
California Gov. Jerry Brown has signed Assembly Bill 2298, legislation that will allow financial institutions which hold local agency deposits to submit their weekly reports to the California Department of Business Oversight (DBO) electronically rather than through U.S. mail.

RMJ GOLF TOURNAMENT RAISES 41k updated 08/27/14 12:56 PM
Event Attracts Nearly 100 Players
The Richard Myles Johnson Foundation/CUNA Mutual Golf Tournament, held Aug. 18 at the Newport Beach Country Club in Newport Beach, CA, raised $41,000 for the state foundation for credit unions in California and Nevada.