Strategies for continued loan & deposit growth in spite of a potential recession

first_img continue reading » In a 2019 National Association for Business Economics survey of economists, 72% of respondents predicted a recession would occur by the end of 2021. More than half said they think one will strike before 2020 ends. The economists surveyed cited increased trade protectionism, financial market strains, and a global growth slowdown as factors leading them to this conclusion.i If the market does take a downward turn, consumer, auto, and mortgage loans will face a higher risk of default and deposit and card activity will significantly decline. To make matters even worse, instances of theft and fraud often spike during economic slumps due to growing unemployment and poverty.Aside from a potentially looming recession, other market factors already weigh heavily on credit union business, including: ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img