Assets, loans, deposits, membership up in Q1 2017

The National Credit Union Administration (NCUA) reported that assets, loans and shares (deposits) at federally insured credit unions expanded during the first quarter.According to the NCUA, loans grew by 10.6 percent over the last year to to $884.6 billion. However, loan growth slowed during the first quarter of 2017 to an annualized rate of 7.12 percent. With the exception of credit card loans, all other major loan categories posted an increase during the first quarter.Insured shares and deposits rose $78 billion, or 7.8 percent, over the four quarters ending in the first quarter of 2017 to $1.1 trillion. However, the pace of share growth accelerated during the first quarter of 2017 to 16.62 percent.So, while the loan-to-share ratio of 77.73 percent was up from a year ago, it was down from the end of 2016. continue reading » 7SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr read more

Act changes would handcuff Qantas Joyce

first_imgSource = e-Travel Blackboard: N.J Proposed amendments to the Qantas Sales Act would not only restrict the carrier’s leap into outside markets but also put the airline “in jeopardy”, according to chief executive Alan Joyce.Following the suspension of union strikes against the carrier after the entire fleet was grounded over the weekend, a Bill was proposed by unions to adjust the current Act and keep the carrier from “offshoring” jobs. While the Act was originally mounted to ensure Qantas remained a majority Australian owned company, proposed changes would see Qantas restricted from creating new airline ventures outside of Aus. Mr Joyce said passing the Bill would not only “handcuff” the carrier but put the “business in jeopardy… [and] threaten Australian jobs”.“Qantas will always be owned by Australians, will always be proud that the vast majority of our operations are based in Australia and will always call Australia home,” Mr Joyce said.He stressed that currently up to 92 percent of its employees are based in Australia and it is still the only major airline to do the majority of its maintenance down under.“The Bill being proposed would not do more to protect Australia’s Qantas,” he explained.“It would not make us more Australian. “It would not protect Australian jobs. “The Bill represents a significant threat to the viability of Qantas and the growing number of Jetstar airlines operating in Asia – even those that don’t fly to and from Australia.”The carrier’s head added that the airline had and always will comply with the requirements of the act which currently details that foreign ownership of the airline cannot exceed 49 percent, foreign airlines cannot own more than 35 percent of the carrier, Qantas must always form parts of the carrier’s title, head office and principle operations must be in Australia as well as two thirds of the director must be Australian citizens.“Would Australia seriously consider applying these principles to other great Australian companies such as ANZ, BHP or Westfield, who also invest and employ in overseas markets?” he added.“Like Qantas, these are great Australian companies who have sought out new markets, created jobs, grown opportunities and wealth for this country.”last_img read more