Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Idaho League Notes Growth of State's CUs
BOISE, Idaho (8/14/13)--A better economy and more new loans have helped improve Idaho credit union performance in 2013, according to the Idaho Credit Union League.
 
The economic and business climate in the state provides a fertile environment for credit unions, Chris Johnson, league president/CEO, told the Idaho Business Review (Aug. 2). Johnson said he is "exceedingly optimistic" about the future of credit unions in the state.
 
Loan demand, which was weak during the recession, has increased, said Gavin Gee, director of the Idaho Department of Finance, which oversees state-chartered credit unions.
 
Idaho Central CU, Chubbuck, was ranked the best-performing credit union in the U.S. in 2012 by SNL Financial, a financial information firm in Charlottesville, Va., said ICCU CEO Kent Oram in the article.
 
An improved housing market is driving credit union performance, both Oram and Gee said. Mortgage refinancing initiated the recovery, but has slowed recently, Oram added.
 
A balanced state budget and lucrative state bond market also helped, Johnson said.
 
One worry for Idaho credit unions is the increasing burden of regulations. Rules related to the Dodd-Frank Act and Consumer Financial Protection Bureau (CFPB) are chief concerns, Oram noted.
 
The Credit Union National Association continues to work with the U.S. Congress, the CFPB and the National Credit Union Administration to minimize regulatory burdens on credit unions. Recently, CUNA reiterated that CFPB and NCUA should conduct detailed cost-benefit analyses on proposed and final regulations to curb the "creeping complexity" of burdensome regulations on credit unions--especially small credit unions.


RSS print
News Now LiveWire
96 #creditunions across Britain have applied for funding from Lloyds Banking Group #CreditUnion Development Fund http://t.co/quq3OEE0Qq
7 hours ago
Eight new ideas hatched from @fileneresearch innovation incubator #NewsNow http://t.co/h6Ev6q3HnQ
8 hours ago
Homebuilder confidence continues to climb #NewsNow #Market http://t.co/UTBSpmoeZD
10 hours ago
Mich. league issues 4th consecutive dues rebate #NewsNow http://t.co/MGxMRRLrkb
10 hours ago
Passwords: It's not what you type, it's *how* you type via @Forbes http://t.co/QsPjmGjA4K
11 hours ago