Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
CU CEO confidence continues upward trend
PLANO, Texas (8/21/14)--Strong financial conditions and expectations have driven credit union CEO confidence to its third quarterly increase, according to Catalyst Corporate FCU's survey.
 
Catalyst Corporate's Credit Union CEO Confidence Index reached its highest level in six years--32.94--in the second quarter. This follows a first-quarter number of 30.32.
 
The largest quarter-over-quarter increase was noted in the CEOs' expectations for their credit unions' financial condition section, which jumped to 45.64 from 39.16.
 
The Present Situation Index edged upward to 32.76 from 29.47, and the Expectations Index bumped up to 33.03 from 30.75 in the first quarter.
 
The percentage of CEOs expecting conditions to improve over the next six months increased to 45.64 from 39.16. Assessment of their institutions' current condition also rose to 37.61 from 34.78.
 
"I share the optimism of the survey results," said Mike Murphy, CEO, $141 million-asset Holyoke (Mass.) CU, in a statement. "Credit losses are low, and real estate values are increasing modestly. Loan demand is up, with the exception of mortgage refinance activity, and the cost of funds is stable. Improvements in employment prospects are sure to benefit my membership."
 
CEOs also reported a positive membership environment, giving members' current financial condition an increase of 3.8 points and 3.44 points in the expectations for future conditions category.
 
Loan growth expectations barely moved from the previous quarter, and share growth potential declined to 23.27 from 24.15.
 
Credit unions have seen much-needed growth in consumer loans, said Brian Turner, director/chief strategist, Catalyst Strategic Solutions. "Unfortunately, the industry's larger credit unions ($500 million and greater) continue to get the lion's share of that growth. Credit unions under $500 million in assets are collectively experiencing a 12% decline," he noted.
 
More than 200 credit union professionals responded to the July survey, which evaluates current financial condition of members; current financial condition of the credit union; anticipated financial condition of members in six months; anticipated financial condition of the credit union in six months; anticipated loan demand at the credit union in six months; and anticipated share deposit growth at the credit union in six months.


RSS print
News Now LiveWire
.@CentralMaineCom reports #creditunions have issued thousands of new cards to proactively protect members from Home Depot data breach.
11 minutes ago
.@siskiyoucu does 'littlest things' for members as it waits for toll from devastating fire in Weed, Calif
38 minutes ago
Maine wracked by 100,000 compromised cards from #HomeDepotBreach http://t.co/edJuIOuBvO
1 hours ago
@federalreserve Fed Reserve today said it will not propose any change to its cap on debit card interchange fees http://t.co/0vm600OMau
1 hours ago
Sept. #NCUABdMtg is adjourned.
3 hours ago