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What are the current financial performance trends for credit unions?

As a credit union leader, it is important to keep a forward-looking perspective to anticipate how change will affect your organization.

Key findings from Q1, 2023 include:

  • Net revenue in hard dollars declined. In a fixed-cost industry, the first sign of trouble shows up here.
  • Non-interest income in hard dollars declined.
  • Slowing growth in non-interest expense.
  • While inflation has declined as of May, the Federal Reserve has been raising the federal funds effective rate.

2023 is proving to be a year of building storm clouds. The industry remains well capitalized and can weather the storm, but it is going to be a challenge. Understanding trends and key financial performance indicators in the industry are more important than ever.

Want to connect and learn more about hot topics and trends like this that have an impact on credit unions? Be sure to subscribe to Filene's new LinkedIn Thought Leadership Newsletter —- Thinking Forward!

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