Fintech

RANCHO CUCAMONGA, Calif.-While predicting the economy's course may be difficult, what isn't so difficult is forecasting that the Durbin Amendment could have a big effect on credit union business the rest of the year.

SUMMERVILLE, S.C.-David D'Annunzio hates to rely on an overused phrase, but "cautiously optimistic" seems to be the only way to describe the forecast for the second half of 2011.

DOWNEY, Calif.-On a recent trip to the gas station, Mary Torsney put more than $100 into the tank of her Chevy Suburban-and still only filled it to three-quarters full. So the CFO at Financial Partners CU here certainly understands the affect that high gas prices are going to have as credit unions stare down the second half of 2011.

SAN DIMAS, Calif.-Based on economic signs and the willingness of credit unions to spend a little more, Sarah Canepa Bang predicts CUs will have a stronger second half than the first six months.

BROOKFIELD, Wis.-With the Durbin Amendment hanging over CUs like the "Sword of Damocles," Mark Sievewright says it's time credit unions reinvent how they generate non-interest income.

SACRAMENTO, Calif.-The Golden 1 Credit Union is one of the great turnaround stories in California, having posted five consecutive profitable quarters after enduring huge losses in 2008-09.

PLEASANTON, Calif.-Credit unions will be putting new emphasis in the latter half of 2011 on gaining members and wallet share as the economy grinds toward recovery.

KANSAS CITY, Mo.-For Brandon Michaels, CFO at Mazuma CU here, the first half of 2011 has been fairly positive. The rest of the economy, however, "is still going to be a tough go," he adds.

ST. LOUIS-Slow economic growth means branches will continue to underperform and demand that credit unions make smart and hard decisions about the retail distribution network, one person is emphasizing.

ORLANDO, Fla.-With Florida seeing so much damage as a result of the housing bubble's burst, it's not surprising to hear Orlando FCU CFO Suzanne Weinstein tag her hopes for an economic recovery in the second half of 2011 to the housing market.