AUSTIN, Texas (3/6/15)--Credit union CEO optimism for 2015 is tempered by concerns of increased regulatory burden, according to Abound Resources.
Sixty-one percent of credit union CEOs list regulatory burden as their top concern for 2015--far outpacing the interest-rate environment, which came in at 40%, the credit union consulting firm reported in its Insights survey.
Still, nearly 70% responded that they feel either somewhat or very optimistic--a significant increase from 37% in 2013 and 48% in 2014.
"That is not to say they are content," said Brad Smith, Abound Resources president/CEO. "Concerns about regulatory burdens have increased steadily, and they are still worried about the economy and interest rates."
Tied neck-and-neck for top financial and risk management priority are regulatory compliance requirements and fraud and information security concerns. The latter jumped to 40% from 25% in 2014.
The December 2014 survey captured 187 responses from credit unions ranging in asset size of up to $3 billion.