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CU System
CUNA economist touts CU lending on IBloomberg RadioI
WASHINGTON (7/8/11)--Credit Union National Association (CUNA) Chief Economist Bill Hampel was live on Bloomberg Radio Thursday discussing the economy and its recovery--and got in a plug for credit union lending in the process. During the nationally aired show, "The Hays Advantage,” featuring Kathleen Hays,Thursday afternoon, Hampel noted that consumers are feeling better about their own finances, but they are still very worried about the economy. “Consumers are basically able to spend more than they did before; they just aren’t yet willing to do so quite yet,” Hampel said. “One of the things that we see in credit unions is a lot of credit unions have plenty of money to lend, and are quite willing to lend to their members. As we’ve said before, [credit union] members and consumers have improving credit ratings--but they’re just not willing to borrow, not yet --but I think that’s going to be turning around quite soon,” he said. The CUNA economist noted that there’s plenty of available supply of credit, but it’s really up to the consumer to take action, at least at this point. “The consumer is quite able to borrow; but the consumer has to pull the trigger,” Hampel said.


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