Expert Outlines Five Ways to Ramp Up Fee Income
A veteran bond and commercial finance expert said credit unions can find opportunities to create new streams of income without necessarily creating new risk.
Tim Thomas, vice president of lending for the $75 million Credit Union of the Rockies in Golden, Colo., outlined his ideas in a report, “Five Ways to Ramp Up Fee Income: A White Paper for Community Credit Unions.”
Thomas said some of his suggested products and services can be provided by CUSOs or the credit union may have to go outside that realm. “It’s up to you to select the very best and most competent provider,” he said.
Here are his five areas of focus.