Every year at this time, this space is reserved for predictions. Last year when I made mine, I must have been in a sour mood for they were downright bleak. Fortunately for credit unions, I was wrong on a few-fortunately for credit unions, I was also right on a few. For some forecasts, it's only a matter of time.

The first prediction I had made at the end of 2009 was that credit union delinquencies would reach 2.5%, up from 1.8%. A combination of credit unions' tightened underwriting and a stabilizing economy proved me wrong. Thank you! According to CUNA data, credit union delinquencies peaked at 1.85% in January and have slowly but steadily declined to 1.70% as of the end of October.

That rate is still high for credit unions historically, but at least it's heading in the right direction. But, if unemployment rates don't improve, this figure could go back up as benefits and savings run out.