using iPad to open digital banking apps Source: Shutterstock.

Just as life was beginning to return to a post-pandemic normal, organizations have been hit with a new challenge: Namely, a potential recession. The recent news that inflation was up 9.1% for the 12 months ending in June has done nothing to lessen these concerns. With recession fears growing, many credit unions are preparing for a slowdown.

But the outlook is not entirely cloudy. For example, credit unions are having one of their best lending seasons in recent memory – setting a 30-year record. What’s more, if companies embrace the right digital initiatives, they can optimize resources to weather economic uncertainties and come out stronger.

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