Heard on the Street – here’s what we were reading last week:
Credit union growth shown to outpace banks: There is a nationwide trend that continues to show credit union growth outstripping that of banks, though banks still have the lion’s share of the market. As of June, the National Credit Union Association reported the 5,308 US credit unions had an average of $286 million in managed assets; the FDIC reported the country’s 4,605 banks had an average of $3.5 billion in assets under management.
In Praise of Today’s Entrepreneurs: Even as the entrepreneurship rate declines, more women and minorities are starting businesses. People of all backgrounds are starting to see how they can participate in our wonderful free-market system. They’re innovating, creating jobs and lifting themselves and others up.
Will small businesses decide the presidential election again?: Small business stakeholders helped Donald Trump in 2016. In a recent online poll, intentionally offered 12 months before America return to the voting booth, small business owners were asked: “How will you vote in 2020?” The response came in at 79% for Trump and 21% against.
‘We’re Self-Interested’: The Growing Identity Debate in Black America: Why a movement that claims to support the American descendants of slavery is being promoted by conservatives and attacked on the left. The movement argues that the American descendants of slavery should have their own racial category on census forms and college applications, and not be lumped in with others with similar skin color but vastly different lived experiences.