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Happy Holidays To All Who Serve 12/22/2025 10:28 am By Grant Sheehan and Anthony Hernandez Every year, many Americans celebrate the joy of family and relief from work the holidays bring. Apart from the hustle and bustle, the holiday season is a special time to be with loved ones, engaging in family traditions and rituals, and making memories that will last a lifetime. However, not everyone gets to partake in the holiday gatherings. There are over a hundred thousand military members serving in harm’s way or in 24-hour command center...
Gold Standard The gold standard, explained A gold standard is a system where a country’s currency is pegged to, and can be converted into, a fixed amount of gold. It’s typically meant to create a sense of security in the country’s currency: When a government uses a gold standard , its currency can be exchanged for an equivalent amount of gold—although regulations around redemption vary by country. After the Civil War, in 1873, America adopted the gold standard for the first time. At the time, if gold was priced at $100 an ounce, each dollar rep...
While there have been fears expressed by some of a repeat of the housing bubble that led to the housing crisis just over a decade ago, numerous real estate analysts say they believe the market fundamentals are much stronger now and that the sharp increase in home prices reflects low rates, a lack of inventory, and demographics. To be sure, the market is hot in many markets, with home sellers receiving multiple cash offers, often over the listed price, on homes. Some analysts, including those at Swiss banking giant UBS, have published charts showing how home prices are outstripping both wages and rents, reported USA Today. Home prices have appreciated more than 60% since November 2012, incomes have only appreciated by 20% and rents by 30% over the same time period, the report added. “But unlike the real estate boom that led to the Great Recession, this nationwide price spike is not being fueled by a wholesale collapse in lender ethics,” USA Today reported “There aren't any low-doc o...
Curt Long said a strong jobs report shows resilience despite the Fed’s escalation in interest rates. By Jim DuPlessis | January 06, 2023 CUTimes Source: Shutterstock. NAFCU Chief Economist Curt Long said Friday the continued strength in the job market has increased the odds the nation will dodge a recession this year. The U.S. Bureau of Labor Statistics reported Friday there were 153.7 million seasonally adjusted jobs in December, an increase of 223,000, or 0.1%, from November and up 3% from a year earlier. The unemployment rate was 3.5% in December, down from 3.6% in November and 3.9% in December 2021. Long said December’s rate was the lowest in more than 50 years, while the labor force participation rate rose slightly. Seasonally adjusted average hourly earnings were $32.82 in December, up 0.3% from November and up 4.6% from a year ago, a slightly lower rate of increase from previous months. Curt Long “This is an unambiguously positiv...
As we navigate our everyday communications, I want to emphasize the importance of practicing good email and text message etiquette. This enhances clarity and ensures that everyone feels respected and valued in our interactions. Email Etiquette: 1. Use a Clear Subject Line: A subject line that accurately reflects the content of your email will help recipients know what to expect. 2. Greet Appropriately: Start with an appropriate greeting, such as "Dear [Name]", "Hello [Name]," or "Hi [Name], which sets a positive tone. 3. Acknowledge Receipt: If you receive an email that requires a response, action, or information, please acknowledge its receipt. A simple reply confirming that you have received the email helps the sender know their message was received and provides an opportunity to clarify expectations. 4. Be Concise: Keep your emails clear and to the point. Avoid excessive details unless necessary. 5. Professional Language: Use respectful and professional l...
Lake Manly Returns An ancient lake has reemerged in California's Death Valley National Park following record rainfall this year. Between 128,000 and 186,000 years ago, meltwater from ice covering the Sierra Nevada fed rivers that emptied into Badwater Basin, North America’s lowest point at 282 feet below sea level. The steady flow sustained Lake Manly, nearly 100 miles long and roughly 600 feet deep. The lake disappeared as Death Valley evolved into the driest place in North America , with some areas receiving under two inches of rain annually. This year, however, the park received 2.41 inches between September and November, marking its wettest autumn on record and triggering the temporary return of a shorter, shallower Lake Manly. Above-average rainfall periodically brings Lake Manly back, including in 2023 when Hurricane Hilary dumped 2.2 inches of rain on a single August day, allowing visi...
04/08/2024 09:04 pm By Ray Birch LAKE FOREST, Ill.—The trend lines don’t lie: Financial institutions charging high overdraft fees will likely face operating challenges in the near future and may even be forced to merge if they don’t follow the market trend of lowering their OD charge. Michael Moebs, economist and chairman of Moebs $ervices, is offering that forecast following his company’s new overdraft study, which has found overall net OD revenue for 2023 was down 5.7%, with banks dipping by 8.1% to $31.4 billion, thrifts falling by 28.6%. and credit unions actually increasing net revenue 2.2%. The study further reveals the m...
ARLINGTON, Va.—Existing home sales rose 7% in September to a seasonally adjusted annual rate of 6.29 million units. This represents a 2.3% decrease in sales versus a year ago. NAFCU's Curt Long noted “existing home sales rose on the month to the highest level since January." "Housing starts fell 1.6% on the month while permits are down 7.7%, but the pipeline of construction is still full with backlogs near a 15-year high," said Long, NAFCU's chief economist and vice president of research. "Until they can catch up, home-builders will limit their sales as they battle labor and material shortages." Sales rose in all four regions this month. The South saw the largest rise, gaining 8.6% on the month, followed by the West (+6.5%), Northeast (+5.5%), and Midwest (+5.1%). Versus a year ago, sales were down in all regions. The median existing home price declined from $356,700 in August to $352,800 in September (not seasonally adjusted). That is a 13.3% increas...
NET LIQUIDITY CHANGE FOR U.S. CREDIT UNIONS | DATA AS OF 06.30.22 © Callahan & Associates | CreditUnions.com The federal government took a variety of steps to provide economic relief during the first year of the pandemic, including distributing trillions of dollars directly to consumers. As a result, credit union shares grew at record rates – well outpacing loan growth – leading to sizeable increases in liquidity. However, with the pandemic now mostly in the rearview mirror, credit unions are beginning to unwind the liquidity built up during the crisis. Credit unions reported 6.6% quarterly growth in outstanding loan balances as of 2Q22, well outpacing share growth over the same period, leading to liquidity outflows of $82.3 billion since March. This is a large change from 1Q22, when liquidity moderately increased by $16.8 billion. As economic activity expands, this liquidity is being converted from cash into impactful...
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