Many of us find ourselves at the end of 2020 reflecting on a year that has brought change into every corner of our lives. While we are looking to 2021 with a lot of hope, there is still an understanding that even with promising vaccines on the horizon, there will be a slow return to normalcy. 2020 will be a year to be remembered but it’s time to look ahead, for individuals and businesses.
Even the most optimistic credit union leaders must be prepared to adapt to new realities to be better positioned for the future. From our vantage point, we see four key factors shaping the environment for credit unions in 2021.
- The Pandemic, New Administration will Drive More Change
- Tricky Waters Ahead with Rising Risk
- New Loan Generation may be Tougher
- Cost-Cutting will Remain a Priority