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CU CEOs confidence rises in back-to-back surveys
PLANO, Texas (10/8/09)--Credit union CEOs’ confidence rose in the last two quarters, according to two back-to-back surveys conducted by Southwest Corporate. The corporate’s Credit Union CEO Confidence Survey indicated that the Confidence Index for the third quarter increased to 29.09, up 4.5 points from the previous quarter to 29.09. The index represents a 21-point improvement over the survey’s all-time low of 7.9, which was recorded during the first quarter of 2009 (eFacts Oct. 6). Credit union CEOs have an overall positive outlook for their own institutions, the corporate said. Assessments of credit unions’ financial condition now and six months from now climbed by nine points and two points, respectively. Confidence in their members’ financial condition now and in six months rose by four and five points, respectively. “Recent news that the economy appears to be stabilizing a bit may be a source of encouragement to credit union CEOs, especially those still shell-shocked by narrowing interest margins, rising insurance assessments and stabilization expenses,” said Brian Turner, Southwest Corporate director of advisory services. “Having most of that behind us not only provides a sense of relief, but also helps us to focus on the future again.” The quarterly survey, mailed to 1,328 credit union CEOs, had a response rate of 24.10%.


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