MADISON, Wis. (12/10/13)--The holiday spending survey from the Credit Union National Association (CUNA) and the Consumer Federation of America continues to be highlighted by national and regional news publications. Regulatory relief is still high on the radar, and CUNA experts provided input on the nation's economic environment.
The shopping season is well under way, and media outlets such as The Chicago Tribune, The Washington Times and Fox Business used the survey to support their coverage of sales during Thanksgiving, Black Friday and Cyber Monday, according to according to CUNA's weekly In The News (Dec. 6). The report collects mentions of CUNA and credit unions in the media.
After the release of the November jobs report and the third quarter gross domestic product (GDP) numbers, The Washington Post called on Mike Schenk, vice president of economics and statistics at CUNA, for his views. Regarding the GDP, which showed 2.8% annual growth rate, Schenk told The Post that "it's generally good news, but nothing that would cause us to alter our baseline forecast that much" (Dec. 5).
The Department of Labor reported that the unemployment rate dropped to 7%--a "pretty impressive overall" number, Schenk said, given the effects of the federal government shutdown (The Washington Post Dec. 6).
Rose Bartolomucci, president/CEO of Towpath CU, Akron, Ohio, testified before the House Financial Services Committee on behalf of CUNA. Trade press covered the hearing on "Examining Regulatory Relief Proposals for Community Financial Institutions," which included bills that would allow privately insured credit unions to join a Federal Home Loan Bank, require federal financial regulators to assess and address regulatory duplication or inconsistency, and adjust the Consumer Financial Protection Bureau's rural designation to align with the definition used by the U.S. Department of Agriculture (News Now Dec. 5).
Elsewhere, credit union financial literacy education and charitable efforts were highlighted. The Wichita Business Journal featured the Kansas Credit Union Association's call for volunteers to participate in its "Money Possible: Destroy Debt" program (Nov. 26).
For 12 years, Maine credit unions have held a walking tour to raise awareness and funds for food pantries. Across the state, Maine Credit Unions' Ending Hunger Walking Tour was covered by the Boothbay Register (Dec. 5) and Bangor Daily News (Dec. 9).