As the coronavirus (COVID-19) pandemic continues, CUNA’s economists are closely following the situation.
They recently discussed the economic and credit union impact of COVID-19 during the CUNA Managing Economic and Operational Challenges COVID-19 eSchool, offered free as a CUNA member benefit.
This episode of the CUNA News Podcast features some of that discussion.
CUNA Chief Economist Mike Schenk, CUNA Senior Policy Analyst Samira Salem, and CUNA Senior Economist Jordan van Rijn address key implications for credit union operations and prospects for financial stability and success.
The webinar was the first session in CUNA’s eSchool on managing economic and operational challenges during the coronavirus pandemic.
Other sessions highlight how to keep staff engaged, save the member experience, salvage your strategic plan, and manage a remote workforce during the crisis. Visit CUNA’s COVID-19 resources page for more information.
In this episode:
1:20: Unchartered territory
6:07: Consumer sector strong going into crisis
7:30: Baseline assumptions
9:59: Economic growth forecast
17:12: Vulnerable consumers
19:33: The impact on credit union operations
25:00: Forecast for credit union loans, savings, and other measures