That “cautious optimism” was also reflected in the survey that showed 53% of credit unions have no plans to hire new employees in 2014 and 72% will not open new branches.

Nonetheless, 57% credit unions executives said they expect to expand their products and services, while the same percentage expects growth in credit union shares this year.

Other survey findings included:

• Among respondents that offer business loans, 76% are anticipating growth in 2014.
• Among executives whose credit unions offer mortgage refinances, 46% are anticipating an unchanged level of growth this year, while 31% are anticipating a decline and only 24% are anticipating growth.
• Of the credit that unions that offer first mortgage loans, 43% percent are anticipating growth while 44% are expecting a continuation of the same levels this year.
• Among respondents whose credit unions offer student loans, 42% are anticipating growth and 48% expect continuation of the same levels.

Regional comparisons included some stark differences:

• Credit union leaders in the Adirondack, Metropolitan and Rochester regions are the most optimistic about their regional economies for 2014, while those in the Central New York, Finger Lakes and Long Island regions are the least optimistic.
• A total of 67% of respondents in the Rochester region are projecting growth in first mortgage loans for 2014, the highest number statewide.
• Seventy percent of respondents in the Metropolitan region are planning to hire new employees this year, compared to 40 percent or less in the other chapters.
• More respondents are planning to expand their products and services in the Utica-Rome region (100%), the Central New York region (71%) and the Catskill-Hudson and Rochester regions (67%) than other regions.

Nearly 80 credit union leaders representing every asset category and region in New York State completed the online survey in December, according to CUANY.