Press
Survey: Credit Unions Expect Technologies to Drive Efficiencies
Contact: Rick Govek, rgovek@cuna.com, (608) 231-4189
Madison, WI (January 20, 2012) – According to a survey of more than 450 senior credit union executives, CEOs are feeling more positive than last year in spite of the regulatory cloud. Only 16% report that they are either somewhat or very pessimistic about 2012, and almost half of CEOs (43%) feel either somewhat optimistic or very optimistic about 2012. The survey was conducted by Abound Resources, a CUNA Strategic Services alliance provider since 2010.
Unlike 2011, when regulations such as the Dodd-Frank Act and the Durbin Amendment created uncertainties, CEOs in 2012 are a bit more optimistic because they are now able to plan for the impact of these and other regulations and drive their organizations toward the future.
But regulations, along with a weak economy and loan demand, continue to weigh on CEO’s minds. “Credit union CEOs are very concerned about the regulatory environment because they often lack internal resources to fully understand what will be required,” said Brad Smith, president/CEO of Abound Resources. “Most credit unions will require external assistance to fully prepare for the coming regulatory requirements.”
In addition to CEOs, Abound Resources polled chief operating officers, chief information officers and chief financial officers about their technology concerns and project plans.
Smith will present the highlights of the survey in a free webinar January 24 at 2 p.m. CST. To register, please visit www.cunastrategicservices.com/aboundresources.
A complimentary white paper analyzing the complete survey results will be available the same day at aboundresources.com.
About CUNA Strategic Services
CUNA Strategic Services Inc., owned jointly by Credit Union National Association (CUNA) and the state leagues, saved credit unions more than $25 million in 2010 through its alliance programs. It provides credit unions with access to quality products, services, and technologies delivered with a competitive advantage made possible through volume pricing and strategic program development. For more information, visit cunastrategicservices.com.
About Abound Resources
Abound Resources is a full-service management consulting firm devoted to the community financial services industry. It provides a full array of services designed to improve performance and profitability, and help cope with an increasingly stringent regulatory environment related to Technology; Small Business & Commercial; Operations and Payments; Retail Strategy, Marketing and Sales; Lending; Risk Management and Compliance; and Strategic Planning.