The Federal Reserve's Open Market Committee this week, as expected, kept the federal funds rate at 0 to 0.25%, and said it would continue the exceptionally low range until certain key measures are reached, like unemployment dropping to 6.5%.
Low rates are great for consumers, but make survival on margins difficult to impossible for financial institutions. However, Bankrate.com Senior Financial Analyst Greg McBride sees a new silver lining in the low rate environment for credit unions: home equity lending.
Savvy and disciplined consumers are drawing off the growing equity in their homes and investing in equities, he said.
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