CUNA forecasts improving economy will boost credit union earnings

first_img 2SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr Improved economic and credit conditions, leading to higher interest rates in 2015 and 2016, will bolster credit union earnings, asset quality and capital, according to CUNA’s recently updated 2015-16 economic forecast.“We do not see an interest-rate hike (by the Federal Open Market Committee) dampening growth,” said Perc Pineda, CUNA senior economist.Credit union loan balances will climb 11% this year after a 10.4% jump last year, as households are expected to release pent-up demand for automobiles, furniture and appliances over the next two years, the forecast said.New-auto loans, credit card loans and purchase-mortgage loans will see strong gains in growth as well.After climbing by 4.5% in 2014, savings balances will rise 4% in 2015 and 4% in 2016, according to the new forecast. Further, memberships will expand at 3% in both 2015 and 2016.The forecast also calls for delinquencies to drop to 0.75% in 2016, for net charge-offs to decline to an average of 0.45% from 0.49% by 2016, and for the return on assets to remain at 0.8% for 2015 and 2016.Also, capital-to-asset ratios will climb to 11% by the end of 2015. continue reading »last_img read more

Brett Favre plays golf with Donald Trump; Twitter responds with ‘I had a Brett Favre joke, but . . .’

first_imgPresident Trump and @BrettFavre on the golf course today.Photo via the White House— Yashar Ali 🐘 (@yashar) July 25, 2020Tucked inside criticism of Trump for golfing rather than working to end the COVID-19 pandemic were jokes and memes about Favre, a few of them NSFW. Twitter was not happy that Brett Favre played a round of golf with President Donald Trump on Saturday.The social crowd reacted after the Hall of Fame quarterback was photographed standing beside Trump on one of the greens at Trump National in Bedminster, N.J., both smiling into the camera.  MORE: Favre has thoughts about how Packers should use Jordan LoveThere also was an “I had a Brett Favre joke” theme.I had a Brett Favre joke, but it got intercepted.— Sarcastic Corgi (@CorgiSarcastic) July 25, 2020I had a Brett Favre joke, but it grew old and tired and sad and desperate for relevance.— Jo (@JoJoFromJerz) July 25, 2020I used to have a Brett Favre joke, but I retired it, brought it back, retired it again, brought it back again, retired it once more…— James Akers (@James_E_Akers) July 26, 2020I had a Brett Favre joke, but then it got replaced by a better one.— Mamavalveeta03 (@mamavalveeta03) July 26, 2020I had a Brett Favre joke but it went away and then kept coming back. It was like a Michael Jordan joke I once heard.— Steven R (@psychdrsaroth) July 26, 2020I had a Brett Favre joke but it was too small to see— Jgood (@r8drjgood) July 26, 2020Favre has not commented on Twitter or Instagram.last_img read more