AC&E Day One: Convention Opens to Big Crowds, “Cautious Optimism” About Economy (Misc News: July 13, 2012)
ACME - Economic experts addressing attendees on the first day of the MCUL & Affiliates Annual Convention & Exposition expressed cautious optimism about the direction of Michigan’s economy.
Nearly 700 credit union leaders are expected at this year’s AC&E, which is under way at the Grand Traverse Resort & Spa in Acme, near Traverse City.
Martin Lavelle, senior research associate in the research department at the Federal Reserve Bank of Chicago’s Detroit Branch, told a packed house at Thursday’s Economic Issues luncheon, that when it comes to positive changes in employment, retail sales, and housing numbers, Michigan is doing better than many other states. Still, he cautioned that there is a long way to go, especially given how hard the state was hit by the recession.
“Michigan seems to be turning the corner, but there are a number of factors, both here and abroad, that will need to play out before we really can say the recovery has taken hold,” Lavelle said.
Roughly 350 credit union leaders attended the luncheon, which took place in the middle of a packed day of education sessions on a wide range of topics. Later in the day, attendees were also treated to an “Old Hollywood”-style welcome reception and networking event.
Friday, MCUL Board Chairman George Isola and CEO David Adams will open the general session, which will include a keynote speech from former U.S. Sen. John Sununu and an update from NCUA board member Michael Fryzel.