When it came to the overall economy and the individual economic circumstances of their members, credit union CEOs felt slightly less confident about both scenarios.
That's according to the Catalyst Corporate Federal Credit Union's CEO Confidence Index, which dropped from 32.94 in the second quarter of this year to 31.29 for the third quarter.
The index survey measured credit union executives' confidence levels on a five-point scale from -100 to +100 in several key areas. Questions captured a snapshot of present-day feelings, as well as future expectations, according to Catalyst.
The Present Situation Index declined to 31.57 from 32.76 in the second quarter, while the Expectations Index weakened to 31.15 from 33.03. Despite the decreases, these figures were still among the best since the beginning of the Great Recession in 2007, the index noted.
"Some of the weakening in confidence could be attributed to the uncertainty created by the recent Ebola scare in the U.S.," Steven Houle, director of Catalyst Strategic Solutions' Advisory Service, said. "Other likely factors include continued political tension around the globe, particularly in the Ukraine and Russia, and the economic slowdown in Europe and Asia."
The CEOs' view of their institutions' current conditions declined slightly to 37.23 from 37.61, according to the index.
Expectations for their institutions' conditions over the next six months experienced a greater drop to 42.80 from 45.64 the previous quarter.
The index noted that CEOs' assessment of their members' current financial condition fell to 25.97 from 27.95, while expectations for members' future financial conditions dropped more than four points to 29.53 from 33.64, the largest decline in the survey, according to Catalyst.
"There is a disconnect between Washington economists who only look at the numbers and CEOs who look at their individual members' financial conditions," David Green, president/CEO of the $630 million Contra Costa Federal Credit Union in Martinez, Calif., noted in a press release.
Green, who participated in the survey, said, "A Google employee, for example, with great salary and benefits offsets a long-term unemployed person when only looking at the gross numbers."
He added, "On the other hand, we see members losing their purchasing power every day, because their salaries are not keeping up with higher prices, especially with healthcare and technology products, such as phones and tablets."
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