PLANO, Texas (11/17/15)--Credit union CEOs may disagree with Federal Reserve Chair Janet Yellen’s recent announcement that the U.S. economy is “performing well,” according to the results of Catalyst Corporate’s third quarter Credit Union CEO Confidence Survey.
The overall confidence index fell 2.57 points from the previous quarter, with every survey category losing ground except one.
The largest quarterly declines in CEO confidence related to their members’ financial condition. Optimism regarding members’ current financial condition slid almost four (3.91) points to 23.18 quarter-over-quarter. Similarly, CEO expectations for their members’ financial condition in six months retreated 3.56 points to 26.10 in the most recent survey.
CEO sentiment regarding expectations for their own credit union’s financial condition in six months also dropped, although with less vigor than the outlook for their members, to 40.41 in the third quarter from 41.91 in the second-quarter survey.
The one positive change in the current survey was in CEOs’ assessment of their credit union’s current financial condition. That gauge inched up ever-so-slightly quarter-over-quarter to 35.26 from 35.05.
Expectations were down in the third-quarter survey for both loan demand (by 2.07 points) and share deposit growth (by 4.47 points) over the next six months.
Catalyst Corporate’s quarterly confidence survey--started more than a decade ago--was sent to 2,107 credit union CEOs in October; 274 responses were received, for a response rate of 13%.