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.”
CUs ACROSS THE GLOBE HONOR ICU DAY updated
10/16/14 10:26 AM
Today Marks The 67th Celebration
Credit unions around world are coming together in honor of International Credit Union Day—a celebration that started back in 1948 to reflect upon the industry’s rich history and to promote its achievements and impact. It is also a time to honor those who have dedicated themselves to movement and show appreciation to all credit union employees and members.
ECONOMY: JOBS AND HOUSING IN FOCUS updated
10/14/14 09:55 PM
Past Performance No Guarantee of Future
Jobs and housing drive many components of the credit union business. So how are we faring in California and Nevada?
CONGRESSMAN SHERMAN ON 'REACH' PANEL updated
10/14/14 09:38 AM
Will Discuss Supplemental Capital
Rep. Brad Sherman, D-CA, will join a panel of credit union experts to discuss supplemental capital for credit unions at this year’s 2014 Annual Meeting and Convention—REACH—adding to the exciting line-up of speakers and breakout sessions.
EXCITEMENT BUILDS FOR 'REACH 2014' updated
10/14/14 09:01 AM
New Special Guest Announced
REACH 14, the California and Nevada Credit Union Leagues' highly-anticipated Annual Meeting and Convention, is quickly approaching! This year will be one for the books. After all, the one and only Earvin “Magic” Johnson will be there!