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ECONOMIST: UPTICK IN HOUSING DEMAND
updated 09/27/13 11:54 AM
Speaker at Upcoming Economic Forum
Catalyst Corporate FCU's 36th annual Economic Forum on Oct. 22-23 will bring together seven economists and financial industry experts to share valuable insights to help credit unions prepare for the future.

James Smith, chief economist for Parsec Financial Management and one of the featured speakers, will discuss "Credit Union Implications of a Rebounding Real Estate Market".

"Credit union leaders may be surprised to see how strong the demand for housing and home mortgages is over the next few years," said Smith. "The U.S. has not built enough new houses for several years, so pent-up demand is huge."

According to Smith, demand for new households is about 1.25 million units a year. Couple this with the 250,000 to 300,000 units that are demolished each year, and demand increases further. That means to keep up with demand there should be about 1.5 million single-family housing starts—a level that hasn't been seen since 2006.

U.S. homebuilder confidence is currently at its highest level since 2005, and credit unions are jumping on the bandwagon. In 2005, credit unions issued more than $59 billion in first-lien mortgages. In 2012 that number swelled to $123 billion, and is on pace to reach $130 billion in 2013.

"Obviously, credit unions striving to provide the best service possible to their members will want to take whatever steps are necessary to help them find the right mortgage products," Smith added. "As these differ widely depending upon the characteristics of the membership, credit unions must make informed choices to ensure that products are a good fit for both the members and the credit union as a whole."

Learn more about housing marketing and get valuable intel from Smith at the Economic Forum.Click here to register!

 
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ANNUAL FED WEBINAR ON REGS, GUIDANCE updated 11/21/14 10:32 AM
Also, FinCEN Issues Advisories
Senior staff at the Federal Reserve will host an annual webinar to provide a recap of recent regulatory changes and highlight various inter-agency guidance. The webinar will also discuss current hot topics in the financial services industry and give a glimpse of future regulatory changes.

DIANA DYKSTRA RECEIVES 'EAGLE AWARD' updated 11/20/14 10:41 AM
Outstanding Record of Achievement
Diana Dykstra, president and CEO of the California and Nevada Credit Union Leagues, was presented with the American Association of Credit Union Leagues’ highest honor—the Eagle Award—this week during AACUL’s winter meeting in Hawaii.

LEAGUE SURVEY EXTENDED TO NOV. 21 updated 11/19/14 10:57 AM
Overdraft and Courtesy Pay
The deadline for the California and Nevada Credit Union Leagues’ survey to obtain information about credit unions’ overdraft and courtesy-pay programs has been extended to Nov. 21.

CUs RECEIVE UNRIVALED SURVEY SCORE updated 11/18/14 11:10 AM
Ranked First in 'Customer Satisfaction'
Credit unions are ranked first in customer satisfaction, significantly outpacing all other financial services, according to findings released Tuesday by the American Customer Satisfaction Index (ACSI).