PLANO, Texas – Credit unions executives are still in a black mood about the economy, according to the Southwest Corporate CEO Confidence Survey for the first quarter.
The survey found the general confidence level rising slightly from the fourth quarter’s dire 11.21, but still at a very negative level – just 14.91 for the first quarter.
In comparison, the confidence index slumped to its lowest, just 7.90 in the fourth quarter of 2009, and rose above 40 in 2005 and 2006.
Projections for the financial conditions of members and individual credit unions, both now and in six months, rose slightly from the fourth quarter doldrums, but still are very low, according to the survey.
The CEOs continued to predict low loan demand and high share growth, as members continue their deleveraging, the quarterly survey found.
The survey is sent to about 1,300 credit union CEOs.
