Poll: Credit Union Members Feel Optimistic about the Economy in 2010

Alterna Savings' Members believe 2010 will be a Happy New Year!

TORONTO , Jan. 15 /CNW/ - Alterna Savings, a leading Ontario-based credit union, announced results of a recent research study today revealing that Alterna customers, called members, are feeling optimistic about the Canadian economy in 2010.

In an online study conducted in early December 2009 , over two thirds (68%) of Alterna members polled believe the Canadian economy will improve in 2010; while roughly one quarter (24%) believe the economy will "remain the same". Only a small group of members (7%) expect the economy to decline in 2010.

"These results closely mirror what we're seeing among Canadians in general: increased confidence that the economy will rebound in 2010," says Michael Dorr , Director of Research at Fresh Intelligence Research Corporation, Alterna's research partner.

"Staying in-tune with our members is crucial to us, as a credit union. AlternaSphere, our online member advisory panel, allows us to have a dialogue with our members, to understand their state of mind and keep them informed about Alterna," said Kimberley Ney , Senior Vice President Marketing , Communications and Corporate Social Responsibility, Alterna Savings. "This latest study reveals that our members' frame of mind is aligned with the rest of the country and helps us to better anticipate and meet their needs."

    
    Some other interesting findings include:

    -   This high degree of optimism is supported by members' travel plans.
        For 2010, 58% of respondents stated they are planning a major
        vacation.

    -   Some regional variance did emerge, with respondents from the GTA
        expressing more caution about the 2010 economy vis-à-vis their Ottawa
        counterparts.

    -   Optimism is split by gender, with males more confident about the
        economy and the performance of financial markets in 2010, a finding
        supported by other recent consumer confidence polls in Canada.
    

"Our member advisory panel is a rich source for research and gathering insight into our members' mindset" says Ney "and we look forward to leveraging this asset to spread financial literacy among our members and the broader credit union community."

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About Alterna Savings

Alterna Savings is a member-owned, member-focused provider of financial services. With more than $2 billion in assets and 129,000 members, Alterna Savings is one of Canada's largest credit unions. Alterna Bank is a wholly-owned subsidiary of Alterna Savings and a federally licensed bank. For more information about Alterna Savings and Alterna Bank, please visit our website at alterna.ca.

For further information: Kimberley Ney, Senior Vice President Marketing, Communications and Corporate Social Responsibility, [phone], ext. 7906