When CUNA senior economist Jordan van Rijn looks back at 2020, what stands out most is how quickly the economy is recovering following dramatic declines in gross domestic product and skyrocketing unemployment due to the pandemic.
While the economy isn’t in the clear, van Rijn is heartened by the resilience of the U.S. economy—and credit unions. He’s hopeful for a recovery this year as COVID-19 vaccines become more widely available and administered.
In this episode of the CUNA News Podcast, (recorded in late December), van Rijn offers projections for economic growth and unemployment in 2021, the outlook for credit union balance sheets, possible roadblocks, reasons for hope, and more.
Find this episode and more in the Credit Union National Association (CUNA) Podcast Series, a monthly update by CUNA’s economists on the economic forecast as well as the impact credit unions are expected to see with it.