CUNA Mutual Group Releases May 2020 Trends Report

June 11, 2020 |

The May 2020 Credit Union Trends Report is now available. This monthly report, published and distributed by Steven Rick, provides a review and analysis of recent credit union financial performance and operational results.

The report includes data from two months prior. Key findings in the May report include:

  • The latest economic forecasts have the economy contracting at a 35% annualized pace in the second quarter and the unemployment rate rising over 20%.
  • Credit union return-on-asset ratios is forecasting to fall to 0.2% in 2020, and -0.35% in 2021.
  • Credit union loan balances rose 0.3% in March, faster than the 0.2% pace reported in March 2019 and 6.9% during the last 12 months.

In addition to the Trends Report, Rick also has prepared video commentary on current economic conditions facing credit unions and what leaders need to know as they work to serve member needs. The video can be found on CUNA Mutual Group’s website under the heading, “Helping You Navigate These Uncertain Times.”