Mike Schenk

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Mike Schenk

Mike has 30 years of experience in the financial services industry.

He joined the Credit Union National Association (CUNA) in 1992 and is currently Vice President of Economics & Statistics for CUNA.  He conducts economic research and supports CUNA's public relations and lobbying efforts.  His analyses regularly appear in trade publications such as Credit Union Magazine .  He also is a frequent contributor in the financial media.

Mike serves on the board of a $2 billion credit union.  He currently serves as Board Treasurer and also is Chair of his credit union's Asset-Liability Management and Risk Management Committees. 

Before joining CUNA in 1992, Mike was Director of Research for Financial Research Corporation, where he conducted economic analyses, competitor evaluations and product-line planning for mutual fund companies.  His background also includes six years as Director of Interest Rate Risk Management at the Chicago-based U.S. League of Savings Institutions.    

Schenk has a Bachelors degree in Economics and an M.B.A. in Finance with a concentration in Banking and Financial Intermediation.

With its network of affiliated state credit union leagues, CUNA serves 90% of America's 7,300 credit unions, which are owned by over 93 million consumers.  Credit unions are not-for profit cooperatives providing affordable financial services to people from all walks of life.

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Business Insider
Here’s How a New House Goes from ‘Solid Investment’ to 'Worst Decision Ever’
09/11/2013
Delaying the buying process in hopes of a better rate. Mike Schenk, vice president of economics and statistics at the Credit Union National Association, points out that adjustable ratesare now at rock bottom at about 3 percent. If you really are ready to make the commitment for home ownership, talk to a lender about securing a loan at an adjustable rate instead of a fixed rate.

WalletPop
For First-Time Homebuyers: How to Dodge 5 Costly Rookie Mistakes
09/06/2013
Delaying the buying process in hopes of a better rate. Mike Schenk, vice president of economics and statistics at the Credit Union National Association, points out that adjustable rates are now at rock bottom at about 3 percent. If you really are ready to make the commitment for home ownership, talk to a lender about securing a loan at an adjustable rate instead of a fixed rate.

U.S. News & World Report
5 First-Time Homebuyer Mistakes to Avoid
09/04/2013
Delaying the buying process in hopes of a better rate. Mike Schenk, vice president of economics and statistics at the Credit Union National Association, points out that adjustable rates are now at rock bottom at about 3 percent. If you really are ready to make the commitment for home ownership, talk to a lender about securing a loan at an adjustable rate instead of a fixed rate.

Automotive News
What’s the Credit Union Difference? Low Rates
08/14/2013
Nearly one-third of folks in the United States belong to a credit union, and a lot of those memberships started with an auto loan, says Mike Schenk, senior economist at Credit Union National Association in Madison, Wis. On average, credit unions not only offer lower interest rates on auto loans than banks, Schenk says, they often beat the captives' rates as well.

Medill Reports
First Financial Credit Union Growth In-line with Credit Union Industry
06/05/2013
“People are reacting negatively to the fees and discovering credit unions are their best choice,” senior economist Mike Schenk at the Credit Union National Association said in an interview.

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