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The challenge behind deposit growth in 2019 (Image: Shutterstock).

A new war for deposits is creating a less than positive outlook this year among credit union and bank executives.

Less than half of senior credit union executives are optimistic and only 50% of bank executives are of the same mindset, according to research released in January by Ron Shevlin, director of research for consulting firm Cornerstone Advisors in Scottsdale, Ariz. The research report was based on 300 interviews with senior credit union and bank executives during the fourth quarter of last year. Moreover, among credit union senior executives, their optimism has plunged by nearly 30% from 2018.

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Peter Strozniak

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