From tornados to rainbows: A 2024 forecast
Becoming efficient with card and check consultative tools will help your credit union manage the storm.
The financial services industry faced intense challenges in 2023, such as high interest rates, staffing shortages and liquidity, to name a few. To remain competitive, financial institutions were forced to increase deposit rates, sending more money out their doors to retain deposits, which had a dramatic impact on their net interest margin. While the nation is (slowly) trying to make its way back from the upside-down, mess of a financial year that 2023 was, there are bright spots in the 2024 forecast. There are some consultive tools you may not be familiar with, but will be happy to learn about, as they will not only help your credit union’s bottom line but also save energy, bandwidth and precious time.
2024 forecast: Partly sunny
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