Source: Shutterstock

If 2020 taught us anything, it was that no business model is shock proof. Many trends that were already in progress accelerated rapidly during the pandemic and some weaknesses became starkly obvious. For the credit union industry, it became exceedingly clear that our interest rate shock tests and ALM projections did nothing to prepare us for the onslaught of change we experienced in a few short weeks.

When COVID began late in the first quarter of 2020, most credit unions were unprepared for the mass exodus of staff, widespread branch lobby closures and the overnight utilization of digital channels for member interactions. The pandemic would prove to put the credit union model under stress unlike anything we had ever seen.

Complete your profile to continue reading and get FREE access to, part of your ALM digital membership.

Your access to unlimited content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including and

Already have an account?


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2023 ALM Global, LLC. All Rights Reserved.