ALEXANDRIA, VA (May 23, 2013) The National Credit Union Administration (NCUA) released its May economic update today on the agency’s official YouTube channel. In the latest installment of the series, NCUA Chief Economist John Worth provides a brief synopsis of recent economic trends that point to a moderately growing economy.
The unemployment rate reached its lowest monthly level since December 2008, dropping to seven and a half percent in April. However, Worth warns that an “improving economy with a falling unemployment rate will raise concerns about when interest rates will start rising. Rising rates could pose challenges to some credit unions.”
NCUA’s economic update video series is an ideal resource for credit union board members, loan officers and management. The latest economic update video is available for free 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 nearly 94 million account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions.
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