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Strategies for Growing Loans and Deposits in Spite of a Potential Recession

CUs can continue to grow their membership, loan and deposit business in a competitive, sustainable and risk-conscious way.

By Jarrett Settles | February 21, 2020 at 09:00 AM
Executive's hand catching dollar signs enciktepstudio/Shutterstock

In a 2019 National Association for Business Economics survey of economists, 72% of respondents predicted a recession would occur by the end of 2021. More than half said they think one will strike before 2020 ends. The economists surveyed cited increased trade protectionism, financial market strains, and a global growth slowdown as factors leading them to this conclusion.

If the market does take a downward turn, consumer, auto and mortgage loans will face a higher risk of default, and deposit and card activity will significantly decline. To make matters even worse, instances of theft and fraud often spike during economic slumps due to growing unemployment and poverty.

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