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Nevada has long been a relatively affordable place to live and retire, but the affordability winds have shifted and the cost of living has skyrocketed to nearly 10% higher than the national average, making many Nevada cities some of the most expensive to live in the country.
According to national statistics, state residences on average pay almost $400 per month for utilities as wages in Nevada have not increased as rapidly as other areas in the country. Because of these and other economic factors going in the wrong direction, the Reno, Nev.-based Great Basin Federal Credit Union ($281 million in assets, 22,849 members) decided to get involved in an affordable housing grant program funded through the Federal Home Loan Bank of San Francisco (FHLBSF) to do what it can to help "improve Nevada's critical shortage of affordable housing."
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Michael Ogden
Editor-in-Chief at CU Times. To connect, email at [email protected]. As Editor-in-Chief of CU Times since 2016, Michael Ogden has led the editorial team in all aspects of content strategy and execution, including the creation of the publication’s exclusive and proprietary research database of the credit union industry’s economic landscape. Under Michael’s leadership, CU Times has successfully shifted to an all-digital editorial product with new focuses on the payments, fraud, lending and regulatory beats. Most recently, he introduced a data-focused editorial product for subscribers that breaks down credit union issues into hard data, allowing for a deeper and more factual narrative for readers. In 2024, he launched the "Shared Accounts With CU Times" podcast, which offers a fresh, inside-the-newsroom perspective through interviews with leaders from the credit union industry and the regulatory world. He dives into pressing credit union issues, while revealing the personalities working behind-the-scenes to push the credit union world forward. His background includes years as a radio and TV anchor/reporter and a public relations and digital/social media manager, where he covered the food and music industries, as well as cooperatives and credit unions. Over the years, he has launched numerous exclusive video and podcast series, including a successful series of interactive backstage interviews with musicians at music festivals, showcasing his social media and live streaming production skills.
