Following one of the most productive lending years in the history of the credit union movement, the first quarter of 2020 offered new challenges. But strong mortgage originations negated a pullback in consumer lending to push overall loan balances higher.

Historically low rates to start the year has contributed to strong mortgage lending through March.

Decreased consumer spending and a pronounced pullback from indirect lending programs contributed to slower auto loan growth at credit unions in the first quarter of 2020.

Despite the Federal Reserve’s monetary policy pushing interests rates lower, credit unions are experiencing an influx of deposits as members look for safe channels to park their savings.

Lower interest rates and overall economic uncertainty pushed the investment portfolios of commercial financial institutions nationwide toward shorter allocations in the first quarter of 2020.

A locked-down economy combined with volatile changes in monetary policy put lenders in a difficult position in the first quarter of 2020, as total revenue growth slowed as sources of income shifted away from interest-driven streams.

Member service is of utmost importance for credit unions, and data from the past decade shows how a growing membership base has acknowledged and affirmed this priority.

A decade of economic expansion created record-low unemployment levels, driving credit union employee compensation to the highest rates on record. Early outcomes from the COVID-19 crisis indicate changes to the status quo.

First quarter data provides the earliest picture of the COVID-19 crisis on the credit union industry.

The longest economic expansionary period in U.S. history has come to an end. What else should credit unions know at first quarter?