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Articles by Andrew Lepczyk
Rising Yields Could Impact Your Credit Union’s Balance Sheet
Interest rates on the 10-year U.S. Treasury hit 5.24% as of Oct. 9, jumping 48 basis points from 4.76% one year ago. This is among the highest rates for Treasury securities since 2002. The increase has many watching for policy signals from the Federal Reserve and the Treasury Department on what the future of U.S. debt markets might look like.
Is Financial Planning The Missing Piece In Your Member Relationships?
The U.S. economy is humming along, and unemployment is within historically healthy levels. Still, many U.S. credit union members feel anxious or uncomfortable with their financial position — both for today and for the future. According to 2026 Credit Union Consortium survey data from Gallup, credit union members generally fall into four main groups depending on comfortability and financial anxiety.
You Don’t Know Hack
Cyber threats are constantly evolving, putting credit union data, operations, and members at risk. How well does your credit union understand today’s threats and reporting requirements? Test your knowledge of cyber incidents, criminal tactics, and the growing cost of a breach. Step 1 of 5 Question 1: From May 1, 2025, to April 30, 2026, how many cyber incidents did credit unions report to the NCUA?
Home Equity Lending Gains Ground At U.S. Credit Unions
Rising home values have given many members a larger equity cushion, and credit unions are increasingly tapping into that demand through home equity lines of credit. HELOC loan balances at U.S. credit unions grew13.4% year-over-year in the second quarter. Although this was the fastest growth rate among major loan categories during the quarter, it marked the slowest pace of growth for other real estate loans since the first quarter of 2022.
What Are Your Members Saving For?
What are Americans saving for? And how can credit unions adapt to this savings environment? According to a March 2026 study by NerdWallet, most people are saving to cover emergency expenses, vacations, and car purchases or maintenance. These goals matter because they represent major life events and major financial milestones.
What Do Credit Unions Need To Know About The Latest In Digital Assets?
Since the passage of the GENIUS Act last year, there’s a lot to catch up on with stablecoins and the world of digital assets. As a refresher, stablecoins are cryptocurrency, held in a wallet, that is designed to be a non-volatile asset. From a technology perspective, stablecoins help solve the problem of disincentivizing transactions because of the fear that a cryptocurrency’s value might appreciate or depreciate.
Credit Unions Want Loyalty. Members Are Showing The Way.
Andrew Lepczyk, Editorial Analyst, Callahan & Associates Second quarter data underscores the challenges credit unions face today. Membership growth slowed for the fourth consecutive year; meanwhile, the median credit union has lost members outright for six of the past seven years. Net worth and capital ratios are at historically high levels, showing credit unions have the resources to build the products members want if they apply their position to the benefit of members.
What Do Savings Habits Say About Member Engagement?
This is part of the Callahan Financial Performance Series. Presented by the analysts at Callahan & Associates, the series helps leaders interpret data to drive smarter decisions and uncover new approaches to measure performance. Every deposit tells a story. Behind credit union savings growth are member decisions about spending, saving, and financial security, all of which offer clues about the strength of the member relationship.
Who’s Getting Mortgages? Mostly Borrowers With Strong Credit.
Access to credit remains a challenge for many when it comes to the housing market. Although mortgage lending is on the rebound, borrowers with lower credit scores continue to face barriers to entry. Borrowers with lower credit scores continue to represent a small share of mortgage originations, even as overall lending activity has rebounded from post-pandemic lows.
What’s Driving HELOC Lending At U.S. Credit Unions?
HELOCs have become an increasingly popular way to make everyday purchases and consolidate debt. Surging home values have expanded available equity, driving more homeowners to tap HELOCs and reshaping the credit union loan portfolio. But access to equity is only part of the story. For homeowners who can tap it, low rates have helped make HELOCs a significantly cheaper source of revolving credit, which has boosted their appeal. HELOC RATES VS.
What Can Credit Unions Expect From The 21st Century ROAD To Housing Act?
Housing affordability remains a significant financial challenge for U.S. households, and the issue is becoming increasingly relevant for credit unions. This summer, Congress passed the bipartisan 21st Century ROAD to Housing Act, legislation designed to accelerate housing construction, expand access to financing, and reduce barriers to homeownership.
5 Graphs That Explain Loan Demand In 2026
The strongest sources of loan growth today look different from just a few years ago. Mortgage lending is making a comeback. HELOCs are still booming. Commercial lending continues to grow. Auto lending, meanwhile, remains stuck in neutral. Where is demand building? And what’s behind these trends? First Mortgages The mortgage lock-in effect, which suppressed homebuying activity in the mid-2020s, is easing, and would-be owners are re-entering the market.
Digital Assets Are Coming For Payments. Are Credit Unions Ready?
Fintechs are claiming an ever-growing share of the financial services market. Digital assets in particular have expanded rapidly in recent years, and new research from McKinsey suggests this growth is poised to accelerate even further.
Stable Economy. Strained Households.
The May 2026 unemployment rate in the United States held stable at 4.3%, and the economy has yet to enter a prolonged recession despite repeated predictions. However, underlying data suggests conditions might be shakier than they appear. Inflation has crept back up, dragging real wage growth into negative territory.
AI Adoption Is Growing. Are Credit Unions Keeping Pace?
Credit unions are investing time and resources to ensure employees are up to date on the latest AI tools. That tracks with broader workforce trends. Across the country, a full 50% of employees report using AI, according to February 2026 data from Gallup. That’s an increase of 10 percentage points from the second quarter of 2025. How AI contributes to productivity and its impact across industries are less certain.
How Today’s Market Is Stress-Testing Credit Union And Bank Earnings Models
The differences in credit union and bank earnings models aren’t new. Today’s market, however, is making those differences harder to ignore. As rates, expenses, and credit costs test balance sheets across the financial services industry, familiar differences in margins, fees, and provisions are taking on new meaning. A side‑by‑side look at earnings performance helps put those differences into context. CREDIT UNION VS.
How Inflation Changed Credit Union Member Behavior
Consumer prices rose roughly 15% from early 2020 to the third quarter of 2022. By late 2025, prices were 26% higher. The United States has not experienced this level of inflation since the early 1980s, and it came after decades of mild, steady inflation. To combat inflation, the Federal Reserve drastically raised interest rates, moving the federal funds target range from near zero in early 2022 to 5.25%-5.5% by mid‑2023.
Retirement Preparation Falls Short Across Generations
American workers might feel closer to retirement with every passing birthday, but financially, many are moving in the opposite direction. New data from Vanguard shows retirement readiness actually declines by generation, with baby boomers being the least prepared. That’s a troubling trend for credit unions serving older members. Meanwhile, younger workers are pulling ahead thanks to smarter plan design, escalating savings rates, and earlier access to quality investments.
Employee Engagement
No Comments LemonadeLXP is a modern learning experience platform purpose built for financial institutions, combining game-based learning, multiple content formats, certifications, and technology walkthroughs to accelerate employee performance and digital adoption. It helps banks and credit unions measure impact, ensure compliance, and equip employees to better serve customers. •Modern engaging learning experience that staff actually enjoy.
Asset Quality Takes An Uncomfortable Turn In 2025
This is part of the Callahan Financial Performance Series. Presented by the analysts at Callahan & Associates, the series helps leaders interpret data to drive smarter decisions and uncover new approaches to measure performance. Callahan clients can access the full version of this article right now on the client portal. Read it today.
What Can Credit Unions Do?
The “K-shaped economy” is a buzzword that has defined the post-COVID economic landscape. The term describes an environment where those who are high earners and own assets continue to do very well, whereas those on the lower rungs of the economy do worse and worse. In this way, their diverging paths create a “K shape.” The K-shape is symbolized by different socioeconomic classes’ ability to withstand the headwinds facing the U.S. economy.
How Credit Unions Use Member Engagement During Life Changes
When credit union members experience periods of financial change, nearly half don’t reach out to their primary financial institution. Instead, they reach out to friends and families, according to data from Gallup. What that “change” looks like can run the gamut — from earning additional income, preparing for retirement, or expanding a family to experiencing a job loss or unemployment, making a major investment or purchase, or facing an unexpected expense.
How Could A 10% Rate Cap Impact Credit Union Credit Cards?
What do roughly 80% of American adults have in common? They have credit cards. Drilling down, nearly 26 million credit union members, or 17.7%, have a credit union credit card, and credit unions hold $86.4 billion in credit card loans on their balance sheets. Credit card borrowing at U.S. credit unions has steadily increased since the COVID-19 pandemic as households struggle to keep up with inflation.
How Low Interest Rates Impact Credit Union Mortgage Lending
This is an excerpt from a Callahan Exclusive Client Content. Callahan clients can access the full version of this article right now on the client portal. Read it today. The prospect of a return to 0% interest rates is more enticing than ever for would-be borrowers. After all, rising rates have dampened affordability in the United States. However, are ultra-low rates really in the best interest of the U.S. economy?
Who Will Win Super Bowl 2026?
For the first time since 2016, the NFL’s championship match won’t feature a team from Philadelphia, Kansas City, or Los Angeles. Never fear: Callahan & Associates still has all the credit union performance insights to make a data-driven Super Bowl prediction. On Feb. 8, the New England Patriots rush back into the big game for the first time since 2018. Meanwhile, the Seattle Seahawks will make their first showing since 2014.
Who Will Win The Super Bowl?
For the first time since 2016, the NFL’s championship match won’t feature a team from Philadelphia, Kansas City, or Los Angeles. Never fear: Callahan & Associates still has all the credit union performance insights to make a data-driven Super Bowl prediction. On Feb. 8, the New England Patriots rush back into the big game for the first time since 2018. Meanwhile, the Seattle Seahawks will make their first showing since 2014.
Financial Nihilism Is Real, But How Can Credit Unions Respond?
Expensive housing, mounting student loans, a wobbling economy, AI-driven job losses, political partisanship. These are just a few things Gen Z is ruminating over. That sense of uncertainty is reshaping how young people view money, security, and the very idea of planning for the future. In a May 2025 Gallup survey, Gen Z adults who said they were “thriving” declined five points year-over-year to 39%.
Is Your Credit Union Making Time For Leadership Development?
Leadership development belongs at the center of a smart succession strategy. Organizations that neglect it invite stagnation and missed opportunities. The importance of leadership development becomes even clearer when you look at recent research. A spring 2025 study from Harvard Business Review found nearly half of respondents cite lack of time for training and unclear skill gaps as major obstacles, making a deliberate approach to talent development essential.
3 Ways Falling Interest Rates Impact Credit Unions
This is part of the Callahan Financial Performance Series. Presented by the analysts at Callahan & Associates, the series helps leaders interpret data to drive smarter decisions and uncover new approaches to measure performance. Callahan clients can access the full version of this article right now on the client portal. Read it today. As the Federal Reserve continues to adjust its benchmark rates, credit unions across the country are watching closely.
Credit Union Impact By The Numbers
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Is Revenge Savings A Fad? Or A Financial Shift?
First came spending. Now comes saving. Months of lockdown during COVID-19 combined with relief checks compliments of the coronavirus rescue package put many Americans — especially those of greater means — in the mood to spend. Vacations, restaurants, and shopping were common as media coverage, economists, and even policymakers encouraged consumer spending as a way to jump-start a downtrodden economy.
What Does The Personal Savings Rate Mean To Credit Unions?
The personal savings rate is an important economic metric that provides a pulse on household resilience. It’s also a benchmark credit unions can use to measure their role in strengthening household stability, but to do that, they must have a firm understanding of what it is and what comprises it. Armed with this insight, credit union leaders can leverage the data to make better-informed decisions about the needs of their membership. What Is The Personal Savings Rate?
Credit Union Financial Performance Insights For CFOs
Chief financial officers, revenue gurus, budget hawks, numbers guys and gals — this week’s for you. Credit union leaders take a close look at the numbers every day, but it’s not always easy to see the forest for the trees. That’s where Callahan comes in. This week is Financial Performance Week on CreditUnions.com, presented by the analysts at Callahan & Associates. This series helps leaders interpret data to drive smarter decisions and uncover new approaches to measure performance.
Should Credit Unions Be Pessimistic About The Economy?
This is part of the Callahan Financial Performance Series. Presented by the analysts at Callahan & Associates, the Financial Performance Series helps leaders interpret data to drive smarter decisions and uncover new approaches to measure performance. The U.S. economy is a source of anxiety for many people across the United States.
What Are The 3 Most Essential Gen Z Payment Trends?
The analysts at Callahan & Associates field all kinds of queries from clients and curious credit unions regarding data and trends across the industry, within the field of financial services, and among the U.S. population. A couple of weeks ago, we quizzed our readers on how well they know the Gen Z economy. This week, we’re examining how this digitally native cohort — whose members span from early teens through late twenties — is pushing the payments boundary.
New 401k Rules Will Impact Credit Unions, According To New Data
A recent executive order from President Trump directed the Department of Labor to begin allowing cryptocurrencies, private equity, and real estate in 401(k) investments. While this change will take time to work its way through the regulatory system, it could set off a chain reaction resulting in a broader, and riskier, diversification of 401(k) assets.
How Well Do You Know It?
Gen Z can be tough to get a read on. Born generally between 1996 and 2012, members are digitally savvy and often push the boundary on technological tools. When it comes to finances, however, this is a generation of nuances. The age gap between the youngest and oldest Gen Z members means the cohort encompasses very different priorities.
5 Graphs That Explain Loan Growth In 2025
The United States’ economy is proving resilient for now, with pockets of strong consumer activity and investor demand. However, several forces are converging to suppress overall loan growth in 2025. From rising student loan delinquencies and tight auto lending conditions to a housing market frozen by mortgage rate lock-ins, consumer behavior is shifting in response to a complex economic landscape.
Chief Strategy Officers Share Thoughts On Banking In 2030
“We’re staying comfortably uncomfortable.” That’s how Heather Luciani, chief strategy officer at Honor Credit Union, describes her mindset — and it’s one many of her peers across the movement share. In a financial services world that’s shifting faster than ever, credit union strategy leaders are learning to thrive in uncertainty. They’re rethinking everything from how members interact with their cooperative to how employees adapt, lead, and innovate. The goal? Stay relevant. Stay human.
How Stablecoins Could Be Revolutionary For Credit Union Industry
Cryptocurrency is seemingly everywhere in 2025, including member’s virtual “wallets.” A 2022 study from CUNA – now known as America’s Credit Unions – found cryptocurrency ownership among credit union members stood at 39%, as opposed to 17% of the general population. In some ways this makes sense; many Americans who feel excluded from the traditional financial system are drawn to cryptocurrency, mirroring the relationship many members have with their credit union.
How Stablecoins Could Be Revolutionary For Credit Union Industry
Cryptocurrency is seemingly everywhere in 2025, including member’s virtual “wallets.” A 2022 study from CUNA — now known as America’s Credit Unions — found cryptocurrency ownership among credit union members stood at 39%, as opposed to 17% of the general population. In some ways this makes sense; many Americans who feel excluded from the traditional financial system are drawn to cryptocurrency, mirroring the relationship many members have with their credit union.
Industry Insights
No Comments From employee engagement to community impact and beyond, these are the initiatives credit unions must focus on to stay aligned and prepared for the challenges ahead. Read More » No Comments Members are changing the way they deposit their money, saving more and opting for lower-yielding, more liquid account types. Read More » A partnership with the Institute of Gerontology at Wayne State University has helped the credit union reduce reports of elder fraud by as much as 50%.
Enterprise Risk Management (ERM)
No Comments Discover how Protecht ERM brings risk appetite to life in this product tour video. Protecht is a single, no-code risk and compliance platform that enables you to manage all enterprise risks in one place. Here we showcase the practical application and benefits of monitoring risk appetite in line with key risk indicators (KRI) including compliance Read More » No Comments Risk might or might not impact your organization, but you must be ready regardless.
Digital Wallet Usage Skews Younger In New Consumer Survey
Digital Wallet Usage By Generation For U.S. Consumers (Sample size: 2,501 respondents) SOURCE: PYMNTS INTELLIGENCE | Data as of February 2024 There’s a stark divide in digital wallet adoption, with Gen Z embracing those tools more than any other age bracket – and at more than three times the rate of baby boomers. Put another way, those born before 1980 use digital wallets at a rate almost 20 percentage points below those born in 1980 or later.
Macroeconomics: First-Quarter Trends Or Headwinds
Stay informed, inspired, and connected with the latest trends and best practices in the credit union industry by subscribing to the free CreditUnions.com newsletter.
The Opportunity In Credit Union Internships
INTERNSHIP HURDLES: WHAT’S STOPPING STUDENTS FROM GAINING EXPERIENCE? FOR 2,430 COLLEGE STUDENTS SOURCE: Gallup Internships are a valuable component of higher education experience, with research confirming the value they offer interns as well as employers. But a March 2023 Gallup survey of university students found roughly six in 10 respondents reported they did not have internship experience, despite its importance in securing a job post-graduation.
What Is Stagflation? And What Does It Mean For Credit Unions?
There’s been a lot of talk lately about stagflation, the economic phenomenon putting economic policymakers and central bankers in a tough spot. But what does it all mean for credit unions? And how will the Federal Reserve’s response impact credit unions’ ability to manage their balance sheets and income statements? What’s Going On? A: When the economy shrinks while prices and unemployment increase.
Housing Affordability Is Crushing The Average Borrower
“Affordable for whom?” That’s the question buried inside every headline about the housing crisis. As prices climb and wages lag, the dream of homeownership slips further from reach for millions of Americans. But understanding how unaffordable housing has become — and for whom — requires more than just gut feelings or anecdotal evidence. It takes data. That’s where affordability metrics like the Housing Affordability Index and the Case-Shiller Index come in.
Financial Happiness Isn't About Luxury Anymore
DEFINING FINANCIAL HAPPINESSFOR 2,034 SURVEYED AMERICANS | DATA AS OF AUGUST 2023 SOURCE: Empower In a 2023 survey conducted by financial services firm Empower, respondents were asked to define financial happiness. For 67% of them, it’s paying bills on time and in full, whereas 65% said being debt free. On the other hand, just 20% cited having nice things means financial happiness and 17% said reaching a certain net worth.
Credit Unions Respond To Rising Economic Anxiety
Americans across the country have battled economic sluggishness for a few years, but lately, the mood has soured even further. GDP at the end of the first quarter was 0.3% lower than at the end of 2024, hard evidence of a slowdown and reflective of the pessimism evident in consumer sentiment data. That data paints a gloomier picture, suggesting members aren’t just feeling negative in the moment but expect the future to be bleak as well.
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