This collection of positive news about credit unions and their activities is assembled from a variety of sources on the Internet and from credit union submissions. Note: links used here are external and the League does not control their expiration dates.
To share news from your Indiana credit union: send story links to Kay Neidlinger. You can also read more about credit union's community service efforts--and contribute information at the Commitment to Change website.
Indiana Credit Unions in the Media
Source: Credit union submissions and Internet news reports. Some stories may require passwords for access.
The National Credit Union Foundation has created an Impact Map that shows the Foundation's programs, projects and Credit Union Development Educators in each state. You can see information about Indiana's Credit Union Development Educators and our participation in the Certifed Financial Counseling Program by clicking on the state and following the links.
A third of regulations under the Dodd-Frank Act have yet to be completed. Unfortunately, the law has created undue burdens for America's credit unions. CUNA Chief Advocacy Officer Ryan Donovan explains, "If the goal was to lead to a gradual reduction of credit unions in the country as a result of an overwhelming regulatory burden in response to the crisis credit unions didn't contribute to, then the law was a success." He continued, "credit unions, however, would view the law as a failure."
Consumers looking for extra funds can apply for a personal loan or personal line of credit; however, the importance is knowing the difference. CUNA Managing Editor Michelle Dosher advises consumers to take out a personal loan when "you have a solid idea of the amount you'll need to borrow."
CUNA President/CEO Jim Nussle's New Year's Resolution is to make CUNA a stronger organization. This includes uniting the goals of CUNA and the leagues together in order to deliver greater value, accountability, and advocacy success for America's credit unions. (Password/subscription required).
CUNA VP of Economics and Statistics Mike Schenk predicts that by the end of the year, CD rates will rise. Now that the Federal Reserve announced plans to raise the federal funds rates, "We expect the Fed to increase the benchmark rate by quarter-point increments at every other meeting during 2016 for a total of 1 percentage point by the end of the year," states Schenk
The Federal Reserve's decision to boost federal funds rates will impact personal loan rates in 2016. CUNA senior economist Perc Pineda predicts personal loan rates will start adjusting upward fairly soon.
Make plans to attend the League's 2016 Legislative Affairs Forum
2016 is shaping up to be a big year in politics, with elections all over the map from the presidency on down. Join the League and credit unions from across Indiana at the League's Legislative Affairs Forum on Feb. 8 to learn more about the legislative landscape for credit unions. U.S. Congresswoman Jackie Walorski (R-2) will be there to provide an update from Congress, and there will be a reception where you can interact with members of the Indiana General Assembly. Details about the event -- including registration links -- are on the League website. Submit your registration today!
