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About three-fourths of credit unions that participated in NAFCU's February Economic & CU Monitor survey said they are "very" or "somewhat" concerned about the rise of fintech and its potential impact on the financial marketplace.

The survey results (member only) show that the vast majority of respondents think fintech companies could be "significantly" disruptive to the current market – largely due to changes in consumer preferences that favor "fast, innovative and accessible technologies," the Monitor notes. And the majority of respondents cited credit or digital payments as fintech market segments with the most potential to directly compete with credit union services.

More than 90 percent of credit unions surveyed support federal regulation of fintech companies, and more than 70 percent of those are in favor of fintech companies being under the same regulatory standards that govern traditional financial institutions. They identified consumer protection, capital and liquidity requirements, and cybersecurity and data security standards as the key areas in which regulatory oversight of fintech companies is needed.

This month's Monitor also notes that the credit union industry ended 2016 with estimated membership growth topping 4 percent and loan growth exceeding 10 percent.

NAFCU members are encouraged to participate in next month's Monitor survey, which covers housing. The survey includes questions on the government-sponsored enterprises, the Home Mortgage Disclosure Act, the Truth in Lending Act-Real Estate Settlement Procedures Act integrated mortgage disclosure rule and chattel lending.