How are tariffs affecting American credit unions?

U.S. tariffs will have a global impact affecting credit unions, their members, and the entire financial services marketplace, says America’s Credit Unions Chief Economist Curt Long. 

Appearing on the Global Credit Union Podcast, Long said there is no shortage of economic concerns, but there are three areas he is watching closely:

• Low-income households. Stagnation in the labor market and on wage growth has increased pressure on those households;
• The corporate sector. Very slow growth in investment and hiring over the course of 2025 is making an impact; and
• The Federal Reserve. The Fed is facing the challenge of dealing with slowing growth and inflation still above its target.

America’s Credit Unions’ latest Economic Update video examines the impact of tariffs on credit unions in the second quarter of 2025.

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