Oregon and Washington credit unions were reminded last week of something they know full well: the S&P downgrade of the nation's credit rating and the market turmoil could bring in a substantial deposit influx at a time loan demand remains tepid.
In a message emailed to its members, the Northwest Credit Union Association noted that many investors are "just converting their investments into cash and waiting out the turmoil."
The timing, however, "for the potential of servicing more deposit dollars could bring additional stress to the balance sheet of many institutions" warned the association's "Anthem" newsletter.
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