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

THE HOOPS REPORT: CELTS DOWN BARCELONA IN CHAMPIONS LEAGUE

first_imgBY NEIL DOHERTY IN GLASGOW: Celtic have beaten Barcelona at Parkhead in the Champions League tonight, winning 2-1In a marvelous night for the club – and the 1,200 fans travelling here from Donegal tonight – Tony Watt and Victor Wanyama scored goals in each half.And Barca had a “consolation” from Messi in injury time. Victor Wanyama – coveted by clubs all over Europe – became the first Kenyan ever to score in the Champions League group stages.He rose at the back post for Celtic’s only corner of the first-half to nod the ball home.Barcelona came flying back at the Hoops after the 21st minute goal.But on a breakaway ten minutes later Samaras was just inches from making it 2-0. Barca had numerous chances in the second half – with Fraser Forster superb in the Celtic goals.But it was Celtic who went further ahead, sub Watt hitting home in the 84th minute to send Parkhead completely barmy.A long kick-put from Forster went straight through the Barca defence, and Watt ran through to finish brilliantly.This place went nuts – what a night for Celtic – the green half of Glasgow could be taking tomorrow off.What a way to celebrate 125 years of this great club. Neil Lennon was certainly delighted afterwards – as were all the players – describing it has “the greatest night.”“We thought we could affect them at corners, at the back post against Jordi Alba,” said the Co Armagh man.“Charlie Mulgrew is one of best dead ball experts around, and Victor Wanyama gets better and better.“We had to weather a storm, you know it’s coming and there’s not much you can do. Tony Watt gave us a new lease of life and scored a great goal. He’ll go down in the history books of the club. He added: “The club has been the in doldrums. This is not the pinnacle, there is more to come from this team, but the progression is great. It gives us a great chance [of qualifying].“We go to Benfica next and will have to raise ourselves again, but we’ll cross that bridge when it comes to it.“I want them to enjoy the moment and then get back to domestic action.“When I came in I said I wanted to bring the thunder back and I’ve never heard anything like that.”Keeper Fraser Forster described Celtic’s victory as “tremendous” after the England goalkeeper performed heroics at the Camp Nou a fortnight ago but was unable to prevent a loss.“Words can’t describe it,” said Forster.“We put in so much effort away (in Barcelona) and couldn’t see it through, but today we have and we’re delighted. We have a fantastic squad; whoever comes in can do the job.”Goal hero and super sub Watt said the goal was “the best moment of my life.”“It will take a while to sink in but we’ll look back and say, ‘wow, we’ve beaten Barcelona in the Champions League’ – it doesn’t get better than that.“The crowd were like a 12th man, I’ve never heard anything like it, the place was rocking.”THE HOOPS REPORT: CELTS DOWN BARCELONA IN CHAMPIONS LEAGUE was last modified: November 7th, 2012 by BrendaShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)Tags:THE HOOPS REPORT: CELTS DOWN BARCELONA IN CHAMPIONS LEAGUElast_img read more