Five ways to prepare for the coming recession

I’m an optimist—even in the midst of challenging times I do my best to stay positive. However, there is a looming negative cloud on the horizon we in financial services must address: the potential of a coming recession.

Talk to any economist or read any economic forecast and you’ll see just about every expert is predicting a potential recession the end of 2019 or sometime in 2020. It’s just a matter of how deep and wide it might be.

I recently had the opportunity to appear on CUBroadcast and one question host Mike Lawson asked was “From a marketing perspective, what do credit unions need to be doing to prepare for a potential recession?” I gave three action steps you can take (click this link to see the full interview).

Here’s an elaboration on those three steps plus two bonus tips for preparing your credit union for a recession.


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