NAFCU Journal July August 2021

3 THE NAFCU JOURNAL July–August 2021 July–August 2021 • VOLUME 46, NUMBER 4 The NAFCU Journal (ISSN 1043-7789) is published bimonthly every other month. July–August 2021, Volume 46, Number 4. Published by the National Association of Federally-Insured Credit Unions, 3138 10th Street N., Arlington, VA 22201-2149. Periodicals Postage Paid at Arlington, VA, and at additional mailing offices. POSTMASTER: Send address changes to The NAFCU Journal, NAFCU, 3138 10th Street N., Arlington, VA 22201-2149. The opinions and ideas appearing in this magazine are not necessarily representative of policies of NAFCU. Manuscripts and advertisements are welcome, although NAFCU reserves the right to edit manuscripts and refuse advertisements. Contact publisher for advertising information and rates. Appearance of an advertisement does not imply endorsement or guarantee of the advertiser’s claims. For subscription or advertising information, call 800-336-4644 or 703-522-4770. Email: nafcu@nafcu.org ; website: www.nafcu.org . ©2021 National Association of Federally-Insured Credit Unions, all rights reserved. ANNUAL REPORT National Association of Federally-Insured Credit Unions 2020 20 14 FEATURES 14 Economic Outlook Roundtable What to Watch in Second Half of 2021. 20 Creating an Innovative Culture Starts at the Top Providing structure and support critical to encouraging performance improvement ideas. 25 2020 Annual Report COLUMNS 5 Conferences 6 From the Chair 8 Washington and Industry Briefs 10 The Bottom Line 12 Leadership Download 42 Inside NAFCU Services 46 Management Insight 48 Executive Spotlight 52 Compliance Central 54 From the President’s Desk 25