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NCUA Posts New YouTube Economic Update

Free Video Highlights How Improving Economy Will Likely Affect Credit Unions

ALEXANDRIA, Va. (April 27, 2012) – The National Credit Union Administration (NCUA) released the latest video in the agency’s free “YouTube” economic update series today. The April segment reviews how an improving economy will likely affect credit unions. The video also details how credit unions can access useful economic data on NCUA’s website.

“Continued improvement in key economic indicators is good news for credit unions. Falling unemployment and stronger consumer spending will likely help credit unions’ bottom lines in 2012. Credit unions also could expect to see increased deposits, fewer delinquencies and charge-offs, and increased loan demand,” said NCUA Chief Economist John Worth. “While the modestly improving economy will help credit unions, the outlook has risks, too. Credit unions need to account for the surge in crude oil and gasoline prices, and reemerging risk in Europe.”

NCUA has a number of channels where credit unions can get the information needed to enhance performance. Each month, NCUA’s YouTube economic series highlights broader economic developments that will influence credit union earnings and activities.

NCUA also makes it easy for credit unions to look up two key economic indicators—unemployment and house price trends—by state and city. These indicators are critical when making decisions about loss reserves. The latest YouTube segment walks through how credit unions can access these spreadsheets at www.ncua.gov.

You can view the latest, free economic series video on NCUA’s official YouTube channel.



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 U.S. Government, NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of more than 96 million account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions. At MyCreditUnion.gov and Pocket Cents, NCUA also educates the public on consumer protection and financial literacy issues..

--NCUA--

National Credit Union Administration

Office of Public & Congressional Affairs

703.518.6330
pacamail@ncua.gov

Contacts:

John Fairbanks
Office: 703.518.6336
jfairbanks@ncua.gov

Ben C. Hardaway
Office: 703.518.6333
Mobile: 703.298.5223 bhardaway@ncua.gov

Kenzie Snowden
Office: 703.518.6334
ksnowden@ncua.gov

"Protecting credit unions and the consumers who own them through effective regulation"