CEO Confidence Continues In Doldrums
DALLAS – Confidence among credit union CEOs declined again last quarter and continues near record lows as the economic recovery is slow to take hold, according to the second quarter CEO Confidence Survey conducted by Southwest Corporate FCU.
The overall index declined to 13.41 for the second quarter, down from 14.91 for the first quarter, and well below the 30s and 40s of 2004 to 2007, when the corporate began conducting the quarterly survey.
Indicators for members’ financial condition, both now and projected, climbed slightly in the second quarter, compared to the previous three quarters, but the perception of the financial condition of individual credit unions, both now and in six months, also remains very weak, with little change from the previous two years.
The participating credit unions project loan growth at zero for the year, as slack demand continues to plague the industry. Share growth is projected at almost 20%, as members continue to pay off household debt.
The survey is sent to about 1,300 credit union CEOs nationwide.