Economy’s Shape Is A ‘Lumpy L’

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SAN ANTONIO – Recessions typically are described as either “U” shaped or “V” shaped, but the economy of the past few years has been more of a “lumpy L,” according to CUNA Mutual CEO Jeff Post.

“We came down and now we’re just kind of bouncing along the bottom,” said Post, who offered a view on the economy to NASCUS’ annual meeting. Post, who framed his remarks around four themes – Housing, Employment, Credit Losses and Debt, said that for “For credit unions, it’s almost an unprecedented opportunity if we have the capital to deploy,” offered Post.

Pointing to the numerous surveys showing consumers prefer credit unions, he added, “We need to get capital into the system and deal with ability to grow. This is a great opportunity to clarify your strategy and what sets you apart.”

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