The Point: Feb. 18, 2014

 

Acclaimed speakers scheduled for 2014 Convention

Four diverse speakers will take the stage at the Credit Union Association of New York’s 2014 Annual Meeting & Convention to share powerful insights that celebrate the Convention theme of “New York Credit Unions: United For Good.”

Jim Abbott, the one-handed Major League Baseball pitcher who once threw a no-hitter for the New York Yankees, will challenge attendees to adapt, change and mold themselves to meet life’s obstacles. Despite being born with only one hand, he achieved his dream of making it to the major leagues and becoming a standout in his sport. His story has been featured in Time and Sports Illustrated, and he has appeared on ESPN, “Good Morning America” and CNN.

Pamela Meyer, a certified fraud examiner and author of the best-selling book “Liespotting,” will explain which personality types lie; how deception is expressed in email, on the phone and in person; and how to detect deception through body language. Meyer will also share insider tips for gaining the upper hand and closing deals that last, while also emphasizing integrity, maturity and the importance of having difficult conversations during difficult times.

Rick Metsger, NCUA board member and former Oregon state senator, will share industry updates and discuss NCUA’s key priorities during his remarks. Metsger was nominated as an NCUA board candidate by President Barack Obama in May 2013. His nomination moved quickly through the confirmation process, and he took the oath of office Aug. 23, 2013.

Dr. John Worth, NCUA’s chief economist, will provide the latest data and insights to help credit unions navigate market challenges and maximize opportunities. Worth leads NCUA’s team of economists in monitoring economic and financial market developments and trends. He also provides regular updates via NCUA’s weekly economic roundup, videos and other industry outreach.

The 2014 Annual Meeting & Convention will be held June 19-22 at the Saratoga Hilton at City Center in Saratoga, N.Y. Registration, agenda details and additional information are available on the Convention website.


NCUA releases agenda for Thursday board meeting

Only two items are scheduled to be discussed at this Thursday’s NCUA board meeting. The board will review a report on the status of the National Credit Union Share Insurance Fund (NCUSIF) and will consider a proposed rule on voluntary liquidations of federal credit unions.

The meeting is scheduled to begin at 10 a.m., and results will be posted on NCUA’s website and reported in The Point.


UsNet shares 2013 highlights

By focusing on service and the cooperative business model, shared branching network UsNet once again experienced strong across-the-board growth in 2013.

UsNet added four new credit unions and 20 new branches to its network last year. A combined 57 credit unions representing $34 billion in assets and 2.2 million members now participate in the network. In 2013, more than 1.1 million members visited UsNet’s 196 shared branches located throughout New York, Connecticut, New Jersey, Massachusetts and Florida.

UsNet also distributed $27,000 in shareholder dividends, $169,578 in credit union rebates and $40,450 in new credit union discounts (also known as opportunity pool incentives) last year. 2013 marked the fifth consecutive year that UsNet participant credit unions and shareholders received the distributions.

“2013 proved to be another successful year for UsNet and our network participants,” said UsNet COO Marc Inger. “In a changing industry and marketplace, the cooperative model of shared branching continues to create valuable benefits for credit unions and their members.”


Consumers optimistic about mortgage availability

Fifty-two percent of consumers now believe mortgages can be easily obtained, according to a national survey conducted by Fannie Mae in January. Conversely, fewer consumers—45 percent of those surveyed—believe obtaining a mortgage loan would be difficult.

The generally positive attitudes were reflected throughout the survey, which was designed to measure consumer confidence of the housing market. Other survey findings included:

  • The number of respondents expecting home prices to remain stable in the next 12 months increased seven percentage points to 45 percent, while those who predict increases in home prices over that period dropped six percentage points to 43 percent.
  • Respondents expecting mortgage rates to rise in the next 12 months dropped by two percentage points, to 55 percent.
  • More than half of respondents believe it is a good time to buy a house.
  • Only 39 percent of respondents believe the economy is on the right track, but that is an eight-percentage point climb from last month.
  • The number of survey participants who expect their personal financial situation to improve over the next year increased to 44 percent.


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