Credit Union Journal asked CU industry suppliers and analysts about what they are forecasting for the second half of this year.
Analyzing Branches
Focus on transforming facilitiesBIRMINGHAM, Ala. — The economy will continue to raise concerns about branch profitability throughout 2009, according to one consultant who has been finding ways for CUs to address the issue.
Revenue & Risk
Insurance offering assuranceINDIANAPOLIS — The second half of 2009 will keep CUs focused on services that reduce their expenses and manage risk, reports Allied Solutions, which predicts that involuntary unemployment insurance coverage could see even greater interest.
Planning Locations
Advice: Get ready for 2010CINCINNATI — A slowly improving economy will not open the branch expansion floodgates this year, but more CUs will begin planning today for new locations in 2010.
Cutting Benefits?
Reminder not to forget the IRSLOS ANGELES — If CUs seek to cut executive benefits to cope with an economy one analyst predicts will not recover this year, they should pay attention to a certain section of the IRS code.
New Life
Marketing to get new focusTEMPE, Ariz. — The Corporate CU Stabilization Plan is breathing life into 2010 marketing budgets, according to one person.
Pent-Up Demand
Car loans to increaseONTARIO, Calif. — Despite two of the Big 3 automakers having filed for bankruptcy, Credit Union Direct Lending predicts that CU auto loan volume will remain level for the rest of the year and increase significantly in 2010.
Benchmarks Needed
What to know before cost cutsSCOTTSDALE, Ariz. — The next six months will keep credit unions focused on cost-cutting and efficiency improvements, which elevates the importance of using strong benchmarks before making adjustments, suggests Cornerstone Advisors.
Bullish on Q3, Q4
Late model cars 'appeal'ST. LOUIS. Mo. — Forecasting that the recession will continue through Q3 and Q4, Enterprise Car Sales says that outlook is good for credit unions' used car loan portfolios.
Road to Recovery
'Don't procrastinate on IT'GLASTONBURY, Conn. — Delaying IT purchases, especially those that spur growth or drive efficiencies, could lead credit unions to experience a downturn longer than what's delivered by the economy, suggests one person.
The Urge to Merge
More consolidation expectedBIRMINGHAM, Ala. — What does Q3 and Q4 hold? Apparently, more mergers.
Point of Pain (Relief)
POS to grow in importanceTALLAHASSEE, Fla. — The points of pain have many CUs turning to point of sale.
Item Processing
A 'counter-intuitive' predictionVISTA, Calif. — Corporate credit unions' problems are expected to drive greater demand for in-house item processing in the remainder of 2009.
Revenue & Risk
Insurance offering assuranceAUSTIN, Texas — With credit union loans flat and deposits up, how to effectively manage a growing investment portfolio is the issue Amherst Securities Group expects CUs to wrestle with for at least another year.
