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V Shaped Recovery Appears on Tap for 2021






























                                                                                                                              

 

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TCT RISK SOLUTIONS NEWSWIRE

 

V Shaped Recovery Appears on Tap for 2021

 

In a December 24, 2020 article in finance.townhall.com, Mark Skousen writes: “Despite the collapse of some parts of the economy and severe unemployment due to the shutdown, the U.S. economy appears to be making a V-shaped recovery. The e-commerce, health care and educational sectors moved quickly to adjust to the new environment.”

It appears that in 2021, businesses, and later consumers, will be actively expanding the American economy. Financial institutions should be preparing for a potential drawdown of deposits and an uptick in loan demand. These changes in the economy will result in changes in financial statements and profit/loss statements. Credit unions need to be forecasting the possible impacts on their balance sheets.

TCT’s Budgeting and Profitability Projection tools allow credit union managers the ability to project the impacts local and national economic changes will have on profitability and equity.

 

 

 

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