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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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SUPP. CAPITAL FOR RBC GAINS ADVOCATE updated 12/16/14 11:04 AM
McWatters Supports Model for CUs
National Credit Union Administration (NCUA) Board Member J. “Mark” McWatters recently said he supports including a supplemental capital provision in the agency's risk-based capital (RBC) rule to help credit unions meet the rule’s requirements.

CU DIRECT TO DONATE 20K TO CMN updated 12/16/14 11:03 AM
‘20 for 20’ Anniversary Campaign
CU Direct, the nation’s leading provider of lending, automotive, and strategic solutions for credit unions, is celebrating its 20th anniversary by holding a contest to donate $20,000 to one of the nation’s Children’s Miracle Network (CMN) hospitals.

NCUA MAY BE LIABLE FOR DATA BREACH updated 12/16/14 10:05 AM
Flash Drive with Member Info Lost
The National Credit Union Administration (NCUA) confirmed on Dec. 15 that a flash drive containing the personal information of Palm Springs FCU member was lost during a recent audit. The loss of data includes names, addresses, Social Security numbers, and account information.

PREPARE FOR HEALTH CARE REQUIREMENTS updated 12/16/14 09:42 AM
Also, Digital Media and Marketing
Federal health care law requirements, creating a quick digital message, and the marriage of innovation with marketing are all highlighted within the latest “Problem? Solved!” column in Credit Union Digest!