AUSTIN, Texas (3/12/14)--Credit union CEOs are feeling more optimistic going into 2014, according to a recent survey by Abound Resources.
The consulting firm found that 48% of CEOs stated they feel either "somewhat" or "very" optimistic--an attitude bolstered by ongoing credit union profitability, said President/CEO Brad Smith.
"Even with a tough interest-rate environment, credit unions have reason to be optimistic," he said, adding, "In our conversations with credit union CEOs, the majority realize that they can do even more to position their credit union to rise above economic and regulatory challenges and remain profitable and relevant in 2014 and beyond."
CEOs are firmly committed to consumer lending as a critical part of their growth strategy. In 2013, 88% of CEOs cited consumer lending as a growth priority. This year, it's a resounding 94%, the report said.
Membership growth remains a focus, with 25% of CEOs calling it a top priority, up from 17% in 2013. This aligns with the increasing average age of a credit union member and credit unions' desire to add younger members.