DALLAS - (07/05/05) After falling for nearly a year, aranking of confidence in the economy by credit union CEOs hasrisen. The survey found that CEOs feel the current financialcondition at their credit unions have improved, and they also feelfinancial conditions are likely to continue improving six monthsfrom now. Results of the quarterly Credit Union CEO Confidencesurvey, conducted by Southwest Corporate FCU, also mirrors theupturn in consumer confidence reported by the Conference Board'sConsumer Confidence Index. The CU CEO Confidence Index rose to37.26 in the July report-up from 34.81 as measured in April. CEOsrate their optimism on a scale of 1-100. Measurements showed amarked increase across the board with the exception of sharedeposit growth at credit unions six months from now. That numberfell from 23.47 in April to 19.50 in June. Expectation for loandemand reflected the sharpest increase-jumping from 21.77 in Aprilto 30.09 in June.
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The San Antonio-based bank said that loan growth, fueled in part by its expansion in key Texas markets, may compensate for pressure on deposits. It slashed the number of rate cuts it expects this year from five to two.
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Mississippi's Renasant names its next CEO; environmental fintech Aspiration Partners spins out its consumer brand; the OCC adds five weeks to comment period for Capital One-Discover merger; and more in the weekly banking news roundup.
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The Wisconsin banking company forecasted loan growth of 4% to 6% for the full year, driven by an expansion into new commercial and consumer credit lines as well as enduring economic strength in the Midwest.
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In the inaugural iteration of American Banker's news quiz, test your knowledge on top articles covering the legal battles of the Consumer Financial Protection Bureau, new technology testing at JPMorgan Chase, earnings season and more.
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To build their executive presence in meetings and on video calls, junior employees should embrace flexible schedules — and possibly media training, Michelle Young of Worldpay and Anna Greenwald of MoneyGram International said at American Banker's Payments Forum.
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Liberty Bank in Salt Lake City had been "structurally unprofitable" since 2008, according to its regulators. Experts criticized the FDIC for allowing the bank's demise to play out in slow motion.
April 25