July 2, 2009
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
Treasure State
Corporate Credit Union
1236 Helena Avenue
Helena, Montana
59601
 
Copyright © 2009
Treasure State
Corporate Credit Union
All Rights Reserved
 
 
 
Welcome to Treasure State Corporate Credit Union's Web Site.
 
   Market Commentary for July 2, 2009
   
 

Despite recent signs of stabilization in the labor market, a Labor Department report today indicated the road to recovery won’t be easy.

Non-farm payrolls fell a larger-than-expected 467,000 in June, reversing a trend that had seen job losses get smaller for four months in a row. Job losses were broad-based during the month, with nearly every economic sector shedding jobs.

Today’s report brings the total number of jobs lost since January 2008 to almost 6.5 million. In addition, the unemployment rate ticked up to 9.5 percent, the highest level since August 1983.

Overall, today’s data indicate the labor market remains on shaky ground as businesses continue looking for ways to cut costs amid continually weak demand. In contrast, weekly unemployment claims data, which has improved on a consistent basis in recent weeks, tell a more positive story.

Nonetheless, the economy likely will continue shedding jobs for at least the next year as the U.S. economy struggles to emerge from its worst recession since the early 1980s.

Kevin West, CFA Associate Director/Portfolio Analyst
 
 
 
   Senate Approves Housing Bill
   
 

WASHINGTON (5/7/09)—The Senate on Wednesday voted 91-5 to approve S. 896, the Helping Families Save Their Homes Act, which now includes provisions to create a temporary Corporate Credit Union Stabilization Fund and permit credit unions to spread the cost of National Credit Union Share Insurance Fund (NCUSIF) replenishment over a longer period of time..

Read full Article click here.

 
 
     
 
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Correspondent Services
 
TSCCU’s correspondent services provide an answer to traditional banking accounts. No compensating balances or Federal Reserve Bank account is necessary and you continue to earn dividends on all collected funds.
 
 
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