ALEXANDRIA, Va. (Jan. 30, 2012) – The National Credit Union Administration (NCUA) today released on the agency’s official YouTube channel the first in a regular series of videos by Office of the Chief Economist (OCE). NCUA has designed the series to inform credit unions and the public about economic developments affecting the credit union industry and the overall economy.
“Our Office of Chief Economist has a wealth of data and analyses on virtually every aspect of the economy and, through social media, credit union officials will have this valuable information at their fingertips,” said NCUA Board Chairman Debbie Matz. “This information should assist credit union officials as they tackle the difficult policy issues of the day and make decisions that will have long term effects on their balance sheets.”
The first NCUA economic update video provides an overview of recent domestic and global economic developments. The segment also reviews employment and housing market activity, looks at recent interest rate movements, and discusses how the health of the credit union system is tied closely to these trends.
“OCE is committed to providing the best, most accurate, and timely evidence available to assist credit unions in driving economic growth in their membership and communities,” added NCUA Chief Economist John Worth.
Under Chairman Matz’s leadership, NCUA established OCE in July 2010, with the appointment of John Worth as Chief Economist. OCE is responsible for monitoring international, national, and regional economic and financial market developments and trends. OCE also participates in policy program development.
NCUA is the independent federal agency created by
the U.S. Congress to regulate, charter and supervise
federal credit unions. With the backing of the full
faith and credit of the United States, NCUA operates
and manages the National Credit Union Share
Insurance Fund, insuring the deposits of more than 101
million account holders in all federal credit
unions and the overwhelming majority of
state-chartered credit unions. At
Pocket Cents, NCUA also educates the public on consumer protection and financial literacy issues.