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Many Americans have been beefing up their savings during the COVID-19 lockdowns. Credit unions are putting those additional funds toward less fortunate members.
With second quarter data now available, COVID-19’s impact on industrywide metrics is more apparent. Discover how credit union balance sheets are shifting and other key insights from Callahan’s quarterly webinar.
Early data from Callahan & Associates’ new non-interest income tool shows dramatic differences in NII strategy among credit unions.
A locked-down economy combined with volatile changes in monetary policy put lenders in a difficult position in the first quarter of 2020, as total revenue growth slowed as sources of income shifted away from interest-driven streams.
Member service is of utmost importance for credit unions, and data from the past decade shows how a growing membership base has acknowledged and affirmed this priority.
A decade of economic expansion created record-low unemployment levels, driving credit union employee compensation to the highest rates on record. Early outcomes from the COVID-19 crisis indicate changes to the status quo.
First quarter data provides the earliest picture of the COVID-19 crisis on the credit union industry.
Early first quarter data shows the industry balance sheet is changing as credit unions respond to COVID-19.
Prioritizing liquidity to navigate the uncertain economic climate, institutions allocated a higher percentage of investments toward shorter-term products in 2019.
General uncertainty regarding the interest rate environment made it difficult for institutions to accurately price deposit and loan products, which is reflected in year-end income statements.