CUNA’s Stverak: CUs continue to meet needs in a difficult economy | 2022-07-15

July 15, 2022

Montana Economy

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Credit unions are invested in their communities because they are part of the community, Jason Stverak, CUNA’s deputy advocacy director for congressional relations, said on AM 1100 The Flag this week. Stverak spoke with host Scott Hennan on issues including rising consumer costs, the role of community financial institutions and the business lending climate.

“We don’t see the signs of a healthy, growing economy,” he said, adding that consumers “are increasingly turning to their community financial institutions like credit unions to solve the problem: how are they dealing with these tough financial times?”

Stverak also noted that credit unions continue to find ways to serve members and businesses as costs and interest rates rise.

“Credit unions are working with their members to grow small businesses and keep them open during these difficult times,” he said. “Our figures show that the number of loans granted to credit unions is 8% higher at this time this year compared to last year. So we are seeing a lot more members turning to us to meet their needs.

The show airs from Fargo, ND and reaches listeners across the state, as well as Minnesota, Montana and South Dakota.