Credit unions can expect slower loan growth, accelerated savings growth, and a sluggish economy in the months ahead, says Steve Rick, chief economist for CUNA Mutual Group.
During a presentation at the 2019 CUNA Lending Council Conference Wednesday in New Orleans, Rick made these observations about the economy and its effect on credit unions:
Rick forecasts 2.3% economic growth in 2019 and 0.5% growth in 2020, before the economy “comes roaring back in 2023” with 3% growth.
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