ARLINGTON, Va.—Credit union executives were more optimistic about the economy and their business in May than they were earlier this year, according to NAFCU's latest Economic & CU Monitor.
The Monitor's Credit Union Sentiment Index (CUSI) rebounded in May following its decline in recent months. Three of the four components improved from April, including the lending score which had the sharpest gain. Although the majority of respondents reported a positive outlook for growth prospects, those who were pessimistic cited regulation as the main concern, NAFCU said.
The CUSI is an index based on NAFCU member responses to questions on growth and earnings outlook, lending conditions and regulatory burden.
The report also shows that nearly three-quarters of NAFCU members surveyed are concerned about the impact of the NCUA's risk-based capital rule and the current expected credit loss (CECL) accounting standard on compliance costs and capital.