ARLINGTON, Va.—The outlook credit union executives have for the economy and their own credit unions in July was the brightest it’s been since the pandemic hit, NAFCU is reporting.
NAFCU noted the trendline, however, has yet to reach to reach an “inflection point,” with the association attributing the rise to a solid gain in the earnings outlook.
The trade association’s Credit Union Sentiment Index (CUSI), an index based on NAFCU member responses to eight questions on growth and earnings outlook, lending conditions and regulatory burden, showed broad improvement in July, climbing to its highest level since February.
Among the other findings in the August edition of NAFCU's Economic & CU Monitor report: most credit unions report having sufficient coins on hand despite recent issues with coin circulation; however, those who felt otherwise noted that orders in the last month had been reduced significantly.
Amid the coronavirus pandemic, consumers are using physical currency less frequently, which has resulted in fewer coins moving through the supply chain. The U. S. Mint is currently encouraging consumers to pay for things with exact change and return any spare change to circulation as part of its effort to offset the current disruption to supply channels, NAFCU reminded.
Of note, all respondents to the Monitor survey indicated that they were currently accepting coin deposits, with slightly less than half having coin machines available in branch lobbies.