CUNA Mutual Group’s May 2020 Credit Union Trends Report
MADISON, WI (May 29, 2020) — The Credit Union Trends Report is a monthly “pulse check” on the state of the credit union marketplace, often placed in a historical context. The report includes data from two months prior and is published and distributed by Steven Rick from CUNA Mutual Group.
May 2020 (March 2020 data)
- Our latest economic forecasts have the economy contracting at a 35% annualized pace in the second quarter, and the unemployment rate rising over 20%.
- We are now forecasting credit union return-on-asset ratios to fall to 0.2% in 2020, and -0.35% in 2021.
- Credit union loan balances rose 0.3% in March, faster than the 0.2% pace reported in March 2019 and 6.9% during the last 12 months.
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