Businessman watering growth chart plant Source: Shutterstock

Policymakers are bracing for a 2023 slowdown as the global economy continues to work to heal from the pandemic. Rising food and energy prices are likely to cause hardships for many. All of this economic uncertainty is likely weighing heavily on individual investors who want to protect financial deposits, especially before making a large, long-term deposit.

Credit unions must continue to search for ways to grow deposits – especially in these uncertain times. Adopting new strategies to attract large depositors could offer a liquidity buffer for credit unions and increase growth potential during the projected economic slowdown.

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