Credit unions’ opportunity to reconnect with their most “essential” members

When the economy shut down in March of 2020 due to Covid, many office workers went home. Hybrid and remote work options were developed. However essential workers stayed on the job: the trash haulers, public transportation, police, fire, hospital, and construction workers. These blue-collar and middle-class service workers make community life possible for the rest of us.

Today the key economic question is will there be a recession? For hundreds of thousands of white-collar workers in the technology, finance, and venture capital startups the layoffs are here.

Goldman Sachs, Pepsi, Gannet, CNN, Door Dash, Carvana, Roku, Amazon, and dozens of other previously industry-high flyers are in the first rounds of layoffs.

The dominance of the four FANG (Facebook, Apple, Netflix, Google) and their stock market performance has fallen back to the mean of the rest of the market over the past five years.


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