Economic & CU Performance Trends
CU Trends by Asset Category… What if… ➠ U.S. had bright economic future? CU Trends by Asset Category… ➠ What can we do?
Chicken Vs Egg labor market => HH confidence => spending Or spending => business confidence => labor market
What if the U.S. was going to… Experience rapid growth in job creation? Experience rapid growth in disposable personal income? Experience a capital investment boom? Become 95% energy self-sufficient by 2020? Reduce its trade deficit by half by 2020? How can credit unions leverage this opportunity?
The U.S. is experiencing an energy revolution… U.S. has become a net exporter of refined petroleum products for the first time since 1949 U.S. has also become the fastest growing oil and gas producer in the world
What’s driving this opportunity? Natural Gas Revolution Technology has created this price advantage $3 MBTU for natural gas translates into a crude oil price of less than $20 per barrel Represents an 80% savings
Broad Economic Implications… Economic Growth Employment 2.5 million jobs created by 2020 Capital Investment Oil and gas exploration, drilling equipment, rail facilities, pipeline, refineries, processing and distribution Consumer Spending
Broad economic implications… Trade Balance Reduced oil imports, increased exports of both petroleum and natural gas Reduce trade deficit by half by 2020 Corporate Profits Steep decline in energy cost will contribute significantly to profit margins, especially in the manufacturing sector Government Finances Accelerating tax revenues Sales tax from retail sales Personal and corporate tax receipts
Long-term impact on credit unions… What can credit unions do to capitalize on this potential opportunity? Special Deposit Accounts Specialized Lending Education Equipment Legal Assistance Financial Planning
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