An uncertain economy—underlined by high inflation and increased lending costs—has created the need to pivot so that we may continue to build momentum and provide high-quality member experiences. We started this year with ambiguity and carefully monitored fluctuating interest rates. At the same time, we continue to witness the transformation of the financial services sector with new technology, changes in consumer behavior and expectations, and the growth of federally insured credit unions in size and complexity.
We had a good year. We offered new services and sustained competitive rates on loans. Embracing artificial intelligence and facilitating financial transactions in the now-normal digital and mobile space helped streamline member activity and communications.
In addition to our dedication to excellence in member service, our goals this year include ensuring a safe and viable system of cooperative credit that protects our members at all costs. This is in line with our mission to help you, our members, on your respective financial journey, guiding you through the stages of life, and helping our communities with affordable products and services.
Fraud remains top of mind, and advanced technologies give us rapid detection, protection, response, and recovery to protect our accounts. Our diversity, equity, inclusion, and accessibility principles and practices are modeled in human capital programs and processes, and we leverage additional hiring authorities to recruit non-traditional candidates. We believe in rewarding employees who contribute to our collective success, and we maintain effective strategic workforce plans to ensure continuity throughout all levels of the organization.
Our integrity doctrine dictates that we adhere to the highest ethical and professional standards, accept responsibilities and commitments, and maintain transparency in all communications.
Another pivot for us is to blend digital and in-person engagement. Using data and technology, with human guidance and judgment, members will experience a strong, evolving digital experience with the benefits of expert interactions through hybrid platforms.
As we look into 2024, prediction reports indicate up to a 4% loan growth and 3% savings growth for credit unions overall. Slower asset growth is not a bad thing; this slower pace helps our net worth ratios. According to CUNA reports, it expects the aggregate credit union net worth ratio to end the year at 11.0%, an improvement from its April forecast. Further predictions indicate that the ratio will rise to 11.2% by December 2024, up from 10.6%. So we shall see.
In the interim, our collective consciousness is that we begin and end as a cooperative financial institution. By definition, that creates an experience of personal engagement with our members and a mutually invested interest in your goals. We have never wavered from these tenets, and we never will.