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The interest rate environment is the top concern for credit union executives in 2023, according to Cornerstone Advisors’ eighth annual “What’s Going On in Banking” report released this month by the Scottsdale, Ariz.-based consulting firm.

According to the report, based on a December 2022 survey of about 300 banks and credit unions whose asset sizes mostly range from $250 million to $50 billion, 59% of credit union leaders believe the interest rate environment is of utmost concern this year – a jump from 38% in 2022. Coming in second on credit union executives’ list of top concerns was “cost of funds” (47%, a spike from 9% in 2022), followed by “weak economy/loan demand” (44%, up from 34% in 2022).

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Natasha Chilingerian

Natasha Chilingerian has worked in the credit union space for over a decade. She joined CU Times as managing editor in 2015 and was promoted to executive editor in 2019. Before that, she served as a communications specialist for Xceed Financial Credit Union (now Kinecta Federal Credit Union) in Los Angeles from 2013-2015, and as a CU Times freelancer from 2011-2013. She has been a professional writer and editor for more than 17 years, specializing in news and lifestyle journalism as well as marketing copywriting for companies in the finance and technology space.

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