Consumers are Projected to Do Well In 2020

In a December 12, 2019 article on cutimes.com, Roy Urrico writes: “TransUnion forecasts balances and originations to grow for most key credit products and serious delinquency rates to either decline or remain steady for auto and unsecured personal loans, cards, and mortgages.”

With rosy projections like these, credit unions may be looking into stimulating growth with new or enhanced services. To stimulate growth, credit unions may be tempted to try taking more risks by modifying present services or implementing new services without first projecting revenues or determining the impact such new programs will have on profitability.

TCT’s Asset/Liability Management tool with Budgeting and Profitability Projection tools allows credit union managers the ability to project the impacts proposed new services will have on profitability and equity.