2019 economic outlook
Callahan’s annual Executive Outlook Survey gathers insight on what’s top of mind for credit union leaders across the country as they navigate changing local and national economic conditions.
Growing deposits, affordably, to meet loan demand was easily the leading challenge credit union leaders identified in Callahan’s 2019 Executive Outlook Survey. The respondents also generally reported stable to strong economies in their local markets, with some exceptions in rural areas dependent on a single industry, such as mining.
A few respondents also expressed fears of a coming recession in the eighth annual year-end survey, and a couple cited growing delinquencies as an area of concern. Local challenges included high housing costs and home affordability, and across the country, many leaders noted it was only getting tougher to find good help.
In the nearly 250 responses, competition from credit unions, banks, and non-banks frequently appeared, as was the need to grow membership and provide a better digital and branch experience.
Callahan’s 2019 Executive Outlook Survey asked respondents to consider their local market, challenges, and investments to address those challenges. The following pages contain a selection of excerpted answers. The home state and asset class of the respondent’s credit union follow the responses.
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