Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
CU CEO confidence rebounds to pre-shutdown levels
PLANO, Texas (2/13/14)--Credit union CEOs' confidence in the economy rebounded in the fourth quarter, according to a survey conducted by Catalyst Corporate FCU.
 
The Plano, Texas-based wholesale cooperative financial institution's CEO confidence index rose more than three points over the third-quarter survey to 27.04, approximating levels recorded for the first and second quarters of 2013.
 
This year marks the 10th anniversary of the launch of the confidence survey. Looking back to 2004, U.S. GDP was around 4%, unemployment was around 5.5%, and the CU CEO Confidence Index registered almost 20 points higher than it does today.
 
CEOs' optimism regarding their members' current and future financial conditions improved over last quarter, rising 2.19 points and 3.38 points, respectively. Analysis of their own institution's current and future financial conditions also rose over last quarter's results by 1.99 points and 4.65 points, respectively.
 
Only two survey measurements reflected new highs for the year--loan demand and credit union future financial condition--while the remaining measurements stayed at or dipped lower than the average for the past four quarters.
 
The improvement in loan demand and future financial condition is accounted for by higher mortgage rates and improved auto sales, said Brian Turner, Catalyst Strategic Solutions director and chief strategist.
 
"Interest rates are not expected to be significantly higher during 2014, loan demand should improve, but most likely will be concentrated with the larger credit unions, and share growth should be at the most, moderately better," Turner said.


RSS print
News Now LiveWire
#FreeGasFriday courtesy of @tvfcu, TN #creditunions http://t.co/wDRFYJVlpz
10 hours ago
If you were unable to watch or attend @cuna 's @thehill Hill forum on Wed., you can now watch the archived version: http://t.co/FhUnp7HbU8
11 hours ago
Time is running out. If you haven't taken the #NewsNow readership survey, please click here now: http://t.co/4Gp6C2Wa4o
11 hours ago
African financial inclusion possible with mobile money: @IMFNews study http://t.co/0V5DTQToxY
12 hours ago
Louise Herring's birthday is Saturday. 105 years later, her legacy lives on through her kids http://t.co/oMqGADmo0d http://t.co/T3NmS9NqEY
13 hours ago