Last updated: 07/02/2008

What is the Credit Union Economics Group (CUEG)?

A non-political, not-for-profit, and non-funded group of credit union officials with economics and/or financial backgrounds who share a joint interest in providing credit unions with a strategic view on the economy and in the area of consumer financial services.  The proposed group will consist of individuals who work with credit union specific issues on a daily basis and are familiar with planning challenges facing credit unions.

Who can join CUEG?

Since the group is non-political in nature, an invitation from current members can be extended to anybody from the credit union community with the appropriate interest and background.  However, the composition of the group should reflect the NCUA regions. Thus, the group size should be between 5 and 10.

What is the purpose of CUEG?

The purpose is to provide an overall consensus economic picture with details on regional activity to help credit union leadership with their strategic planning. The group will also provide a credit union perspective on regional economic trends by exchanging information with the NCUA, the Federal Reserve Board and the various Federal Reserve District Banks.

What products will the group release?

The group will develop a consensus forecast of the U.S. economic environment and a regional report.  We will issue a press release on their consensus forecast and regional report after each meeting.  The CUEG is a not-for-profit group; all work products will be provided to credit unions free of charge or at cost.  No member or organization represented by a group member may claim ownership or charge for any of the group’s products.

Why is this group being formed?

Economic information is provided to credit unions on a very broad perspective and is usually released to those that can afford the information.  Smaller credit unions need the same timely information and some consensus forecast should be available to them as well. The Federal Reserve needs to know credit union anecdotal information on a timely basis. The credit union perspective is unique because Federal Reserve staff members do not have ready access to this information and credit unions have a strong relationship to the nation’s consumers.

What is the schedule for group meetings?

Following some initial planning discussions, the CUEG group will meet twice a year.  The first meeting took place in Washington D.C. in March 2003.  The agenda included a discussion with a member of the Federal Reserve Board.  The second meeting took place at one of the Federal Reserve District Banks in October 2003.  Currently, CUEG meets with a Federal Reserve District Bank once a year in April or October and releases a bi-annual Regional Report on Credit Unions (April and October).

Questions or comments about CUEG? Please email us!