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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.

Click here to continue reading the latest Market Performance column on Page 23 within the December/January edition of Credit Union Digest!

 
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ENTER THE 'WE OWN OUR BANK' CONTEST updated 08/31/14 03:36 PM
Submit your favorite summer photo
Don’t miss out on the chance to participate in the "We Own Our Bank" summer photo contest and win an iPad Mini!

ASI: NO SPECIAL ASSESSMENT FOR 2014 updated 08/29/14 08:40 AM
Performance Offsets Charge
Dennis Adams, CEO of American Mutual Share Insurance Corp. (ASI), announced to member credit unions that there would be no Special Premium Assessment (SPA) in 2014 by the nation’s private share insurer.

SAN MATEO CU CEO TO RETIRE updated 08/29/14 04:49 PM
Barry Jolette Served 27 Years
San Mateo CU 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.

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.