NCUA's decision to levy a premium to shore up the NCUSIF as a result of the corporate stabilization plan has caused 70% of credit unions surveyed by NAFCU to adjust their growth predictions downward.
According to NAFCU's March Flash Report, 97.7% of those surveyed said their predictions for net income growth had been effected by the premium announcement and 2.3% said their prediction on asset growth.
The association's survey found that 80.6% of respondents were expecting a decline in net income growth this year, 14.9% were expecting an increase and 4.5% expect no change.
On asset growth, 34.3% expected an increase, 34.3% expected no change and 31.3% expected a decline.
A plurality of respondents expected a decline in loan growth this year.
The report found that credit unions were most likely to talk to members about the premium assessment via letter (34.3%). Other methods of communication cited included a pamphlet (20.9%), e-mail (19.4%), personal visit (11.9%) and phone call (11.9%).
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