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The COVID-19 recession officially started in February and the economic effects are still reverberating throughout the nation. This recession, with its peak unemployment at 14.7%, has already began to cut deep into your community and your members' economic health.
This could easily be a time of panic for a credit union leader, but for those using data, this recession and its painful effects on your membership can be dulled. Data can turn a credit union's products into a community resource rather than another economic hurdle for its members. This article will explore how a credit union leader can use data to predict member struggles so they may be addressed proactively, while also easing enterprise risk.
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