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How Credit Unions Can Tackle Macroeconomic Trends to Win in 2023

February 16, 2023 | 0 min read


Our research into the top macroeconomic trends that credit unions will face in 2023 revealed an interesting mix of challenges: 

  1. Liquidity: CUNA forecasts the loan-to-share ratio will rise to 82% by December 2023. Credit unions will struggle with liquidity as loan-to-share ratios continue to increase and loan growth continues to outpace deposits. 
  2. Delinquency Rates: TransUnion forecasts serious credit card delinquencies to rise to 2.6% at the end of 2023 from 2.10% at the conclusion of 2022. Unsecured personal loan delinquency rates are expected to increase from 4.1% to 4.3% in the same timeframe. These are levels not seen since 2010 and, at the same time, demand for most lending products will remain high relative to pre-pandemic levels.
  3. Reaching Gen Z: Credit unions have traditionally competed on convenience, price, and service. But today’s Gen Z and Millennial consumers are looking for more. Approximately three-quarters of credit union deposits are held by members who are of Baby Boomer age or older, according to a 2022 Raddon Performance Analytics program analysis
  4. Competitive Pressures on Fees: Many of the nation’s largest banks have reduced or eliminated NSF fees – historically a key revenue source for financial institutions of all kinds. Credit unions now face unprecedented competitive pressure to eliminate these fees.

So how can credit unions win in 2023? MX sees a few opportunities on the horizon. Credit unions play a vital role in the economy and local communities. 

  • Create personalized, digital experiences rooted in financial health and well-being to drive financial strength and inclusion.
  • Facilitate technology partnerships to help overcome legacy infrastructure challenges and barriers.
  • Enable secure, standardized, consumer-permissioned data sharing and embrace an open finance infrastructure. 
  • Offer higher deposit account rates to differentiate, retain, and grow.

Credit Union Macroeconomic Trends


Credit Unions

Macroeconomic Trends

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