3 takeaways from the first quarter of 2021

The lasting effects of the COVID-19 pandemic — and the national economic response to it — linger on credit union financial statements

The industry is adapting to a changing economic landscape under the lingering shadow of the COVID-19 pandemic. Credit union balance sheets expanded at record rates over the past year, particularly in deposits and mortgage balances. However, low interest rates suppressed earnings, and net worth ratios have declined accordingly.

The industry remains well-capitalized for the moment; still, credit union decision-makers are looking for new ways to boost income in 2021 and generate the capital necessary to keep up with continued balance sheet growth.

Last week, Callahan hosted its quarterly Trendwatch webinar. Here are three takeaways.

 

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