Credit unions find themselves in a unique position these days. They are experiencing record or near-record amounts of deposits from customers. This seems like wonderful news until you hear that they are also experiencing decreasing profits at the same time. How is this even possible? There are a number of reasons for a loss, including declining loan production, decreasing membership, and an aging of existing membership. This is why it's the time for credit unions to form strategic partnerships with companies that can help them regain their footing in the loan and membership acquisition business. 
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Investors and the stock market as a whole did not seem to be fully prepared for the announcement from the Federal Reserve on Wednesday, June 16, 2021 that it would begin to reduce its levels of bond purchases and add some interest rate hikes to its forecast for 2023. In fact, the previous forecast from the Federal Reserve had zero anticipated rate hikes in 2023, but their most recent outlook called for two in that year. The US dollar jumped against all major currencies on the news, but the stock markets got a lot choppier as a result. CNBC reported on the response from one investment officer as such: 
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According to the Federal Reserve's May-issued report, the rising prices of assets in the stock market and elsewhere are posing significant threats to the fiscal system. This report analyzes conditions that affect how stable the financial system is by reviewing vulnerabilities that affect valuation pressures, borrowing by households and businesses, funding risk, and financial leverage. It also highlights near-term hazards that could interact with these vulnerabilities if they're realized.
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The Organization of Economic Cooperation and Development (OECD) reports that the U.S. economy is poised for the fastest recovery in recent times, which spells good news for bankers and lenders.
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The COVID-19 pandemic has had devastating effects on many people and companies. Ordinarily, in a crisis, you would expect banks to extend more loans to cash-strapped consumers.  However, the actual situation is different. The total loans extended by banks have dwindled while the banks' deposits have increased significantly.
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