Knowing CUs have been-and would continue to be-inundated with a lot of bad news, CUNA President Dan Mica asked his staff to come up with five pieces of good news to share with credit unions. Among the good news CUNA came up with for Mica to share:
1) This is the most coordinated global response to a financial crisis in the history of the world.
2) Several key measures of uncertainty have declined, which could be an indication that the economy could be showing signs of returning to normalcy.
3) Consumers are adjusting their own balance sheets, and while it is somewhat painful that they are not spending as they used to, it indicates that Americans are finally relearning to live within their means.
4) Credit unions are right in the game, with mortgages up by about 7.5%.
5) Even with the potential impact of the Corporate Stabilization Plan factored in, credit unions will remain the most well-capitalized financial institutions in the nation.
