These resources will help your credit union embrace recovery and prepare for success.
New home sales are surging (March pulled in a 27% increase over February), consumer spending is growing (4% in 1Q 2010), and the stock market is over 11,000 again. So what does this mean for credit unions? We’ve been leaders throughout the recession. Now, we must adjust our outlook to continue leading during this new positive era.
Public policy efforts in 2010 are focused on Main Street. More than 60% of Americans support stronger financial regulation, and Congress is gearing up for financial debate. But don’t let a recession hangover hamper your vision and investment in future opportunities. Read about how the media, Congress, and the American public are embracing the value inherent in the credit union system, then show them how credit unions are leading the charge to make 2010 the Year of the Consumer.
Main Street is where credit unions live and work. Public media now recognizes the value and timeliness of organizations that focus on member value as well as monetary success. Institutions that focus on member-owner value have much to learn from one another. Check out our interview this week with the National Cooperative Grocers Association for insight on co-operative partnerships.
Finally, as the real estate market rebounds, owners are looking for responsible ways to maximize their home’s worth. For members such as soon-to-be retirees, whose nest eggs are likely fragile, reverse mortgages are a viable option to convert assets into income. If the mere combination of the words “reverse” and “mortgage” makes you wince, then read about our take on today’s modern reverse mortgage. You might discover that, along with your economic outlook, it’s time to re-evaluate your portfolio offerings.