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Eight times a year, the Federal Reserve reports on the economic conditions of its 12 districts using feedback from business owners, economists, market experts, and others.
Four years ago, Callahan & Associates launched its own version of the Fed’s Beige Book with an executive survey aimed at discovering what is happening on the ground in the five regions designated by NCUA.
For Callahan’s 2015 Executive Outlook Survey, credit union leaders offered feedback about where they saw opportunities and challenges in three key areas: lending, asset and liability management, and technology and operations.
A few recurring themes emerged this year, including:
Technology is an opportunity, but keeping expenses in check — for technology, operations, staffing, expansions, etc. — is a challenge.
The threat of impending regulation — including concerns about possible changes to non-sufficient funds (NSF) standards — is of concern.
Interest rates present a mixed bag of both opportunities and challenges.
Competition is getting tight, from both non-financial institutions and other credit unions.
The following answers are a representative sample of the larger outlook survey and are visually categorized as either an opportunity (+), a challenge (–), or a mix of both (+/–). Take a look to see if your credit union faces similar situations, then download the full set of responses as a PDF using the button below.