By all accounts, credit unions have connected with the booming U.S. economy, and the industry's fourth-quarter 2014 financial performance reflected the nation's economic improvement, according to Callahan & Associates' 4th Quarter Trendwatch webinar.
Rising wages, declining unemployment and a national GDP of 2.4% have created a consumer confidence level that has driven credit union key performance ratios to near record levels, according to Callahan EVP Jay Johnson, one of the presenters at the Feb.19 online event.
Thanks to strong asset quality, record capital and net income levels, and rapidly growing loan portfolios, credit unions are in an extremely good position to ride the wave as the overall economy continues to crest, said Johnson, who used the Washington consulting firms Peer-to-Peer Analytics to chart the industry's growth trajectory.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
