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2022 Predictions


Yes, I'm aware that we are nearly a whole month into the year, but to embrace the motto,

"better late than never," here are a few predictions I made for this year.

1. The economy will still be "interesting."

I know that is more of an observation, but we have a few intriguing numbers out from The Conference Board. They predict the

US economy will grow by 3.5 percent (year-over-year) in 2022 and 2.9 percent (year-over-year) in 2023. While this is positive, this is still growing but with a predicted slowdown in 2023. Real disposable income is forecasted to reduce by 2.7%, but consumer spending should grow at 3.4%.

2. A potential new lending market will open up.

There are a few new emerging business sectors that will need lending.

First; Commercial lending opportunity: Vertical Farming

AeroFarms is slated to open its largest vertical farm in Virginia this year, and Plenty, based in California, will open a new indoor farm near Los Angeles. Vertical farms mostly grow high-value leafy greens and herbs in their efficient use of space as they grow up, not you.

Second; Retail: 3D -printed houses and home loans.

We are more familiar with 3D printers used to make scale models of buildings, but not the actual home. Mighty Buildings, another California-based firm, will complete the development of 15 eco-friendly 3d printed homes in Rancho Mirage. Icon, based in Texas, plans to start building a community of 100 3d-printed homes near Austin, making it the most extensive development of its kind.

These emerging sectors will need investment, and a credit union is a great place to help improve its members and the local community.

3. Delivery Drones will become more prevalent.

While it is taking longer than expected to get drone delivery off the ground, Wing, a sister company of Google, has been doing test deliveries. How nice would it be to have member experience which includes drones delivery?

4. Flying electric Taxis WILL happen in 2022

Not only will this happen in the US, but several firms around the world will step test flights this year with the aim of commercial use certification. Joby Aviation, based in California, plans to build more than and doze of its five-seater vehicles. And Volocopter, a German firm, has set a goal to provide air taxi service at the 2024 Paris Olympic Games. Whoo-hoo, that scene from Bladerunner is closer than you think!

To find out more about these predictions and those with John Janclaes, NYMBUS CEO, Glen Sarvady, Managing Principal at 154 Advisors, and BIG founder, John Best, please click here.

 

Curious about the current state of data at your

credit union?

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Where can I fill my data knowledge gaps?


With a stop at the

Data Education Center.


We believe that data transformation doesn't have to feel overwhelming or expensive to be impactful. After helping over 600 credit union leaders launch their data journeys, we have identified several consistent knowledge gaps. We have worked hard to fill these gaps with a variety of educational artifacts:

 

What if I want something more? Does someone offer data education classes with real-world applications?

Yep, that is what we do, of course, and so much more. To learn more, please review our data transformation institute.






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