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ECONOMY 'WELL POSITIONED AND READY'
updated 07/23/14 02:06 PM
CUs Can Target Growth Areas
As the economy expands throughout the latter half of 2014, credit unions should focus particularly on the largest employment sectors and growth in these areas, according to California and Nevada Credit Union Leagues Chief Economist Dwight Johnston in his latest Credit Union Digest column.

California is especially well-positioned to see continued growth in professional and business services (a lot of capital spending is on technology), and trade and transportation (business through the Port of Los Angeles was already higher in May of this year versus the year-ago period by roughly 20 percent).

Education and health care is a sector that never experienced a recession, and California can look for strong job growth this year as people embrace the new federal health care program like no other state. California added 1.4 million insured people.

Stronger job growth generally will also boost the totals in the recovering construction sector.

Nevada hasn’t experienced quite the recovery in jobs that California has. But excluding the hole left by a drop in construction jobs, the three largest employment sectors are approaching pre-recession levels. Nevada will benefit as the U.S. economy exceeds expectations.

“There will, of course, be fits and starts along the way, and there could be some outside, unexpected force that throws everything off stride,” Johnston said. “But barring any great surprise, I believe the job market in California in particular will outpace assumptions. This looks like a breakout year.”

Click here to read the entire Economic Perspective column within the June/July edition of Credit Union Digest on Page 20!

 
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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.