GROWING LOANS: FIND YOUR DIRECTION
updated 01/17/14 01:09 PM
Room to Expand in Mortgages
The most common concern expressed at almost any gathering of credit union executives for more than a year has been sluggish loan growth, according to Dwight Johnston, chief economist for the California and Nevada Credit Union Leagues.
He notes there are certainly some exceptions to this, but the overall tone of comments is confirmed by a historically low loan-to-share ratio in California and Nevada. Loan volume has not fallen, but overall loan portfolios have grown by only 1.5 percent from late 2012 to late 2013.
“California and Nevada credit unions do a very good job at generating mortgage loans,” he writes in the latest edition of Credit Union Digest. “In fact, mortgage originations by credit unions in our two states have exceeded the national average by a fair margin.”
But mortgage loan portfolios are virtually flat. During the refinance boom earlier this year, most credit unions opted to package and sell the mortgages rather than take on interest rate risk since rates are at record lows. It looks like a very good decision in hindsight.
However, putting cautious interest rate decisions aside, most credit unions simply couldn’t afford more exposure to real estate this past year.
MCWATTERS DISSENTS ON BUDGET VOTE updated
11/22/14 06:37 AM
Also, Revised RBC Rule Coming
National Credit Union Administration (NCUA) Board Member J. “Mark” McWatters was the only one to vote “no” on the board’s 2015 proposed budget, which will increase 4.2 percent over last year. The vote was 2 to 1.
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.
NEW EMPLOYMENT LAWS FOR 2015 updated
11/21/14 04:33 PM
Also, TIPs Bulletin Posted
The California Chamber of Commerce has released a list of new employment laws scheduled to take effect in 2015 or earlier that will have an impact on businesses in California.
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.