May Economic Update explores strength in credit union industry

The May edition of the CUNA Economic Update explores the many areas of financial strength for the credit union industry and strong operating results in loan, savings and membership growth.

“Overall, the industry’s financial results are outstanding,” said Mike Schenk CUNA vice president of research and policy analysis. “In this month’s update, we show how credit unions are benefitting from an economy that grows by the day. Consumers are turning to credit unions for their financial needs in incredible numbers, leading to the highest rates of growth we’ve seen in years—or, in some cases, ever.”

The update also provides recent numbers on unemployment and GDP growth, as well as projections on interest rates. Additionally, President Donald Trump’s recent tax proposal, the American Health Care Act (AHCA) and recently announced recoveries from the NCUA are evaluated for their potential impact on the economy and credit unions.


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