Credit union growth survey results – The woes of loans
Throughout September of 2021, we conducted our quarterly survey on credit union growth to help industry executives identify trends, compare plans and pace with peers, and anticipate the future direction of industry.
The driving factor in selecting this topic for Q3 was that we’ve found that the pandemic caused many credit unions to hit the “pause” button on their growth plans. COVID-19 brought so many uncertainties that plans were put on hold and investments postponed. Now that the pandemic is well into its second year of disruption and potentially could impact plans for 2022, credit unions can only pause for so long before implementing plans for growth. The term “growth” itself may have even taken on a different meaning than it held two years ago.
We that this results summary provides a timely and critical report on the state of the credit union industry as we plan and budget for 2022. Summary categories include:
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