Mica notes young members are most optimistic

BOSTON (6/23/09)-- Credit Union National President/CEO Dan Mica welcomed attendees at the America's Credit Union Conference in Boston, saying that despite the tough year for the nation's financial institutions, credit unions can be optimistic. He discussed the optimism of younger consumers--76% of 18 to 29 year olds say their personal financial situation will improve. "That's optimism," he said. The movement projects it will have 100 million members in the next few years. "Young people need it (financial services) and want it. We can stand tall in this."

Credit Union National Association President/CEO Dan Mica welcomed attendees at the America's Credit Union Conference in Boston Monday saying that despite the tough year for the nation's financial institutions, credit unions can be optimistic about the future.

Credit unions' capital is at 10%. "Every other financial institution would love to have 10%," he noted. Banks have regulatory hearings on their backs, shareholders on their backs and more "but we don't have a single group in that situation." Credit unions are No. 1 in trust, he said citing a survey released May 26 by Forrester Research Inc.

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courtesy of cuna.org