ATLANTIC CITY, N.J. — Where can credit unions find new revenue streams? Bob Larson of CUNA told attendees at the “Reality Check” conference to accept the importance of noninterest income.
While credit unions weathered the recession better than large banks, they are searching for new sources of revenue to counterbalance slow loan business and potential losses on the debit card side resulting from the interchange fee cap.
The Maryland/D.C. Credit Union Association has vowed to help its members cope with the assessment and a depressed economy by extending a 10% dues rebate for 2010.
A group of small Maryland/DC credit unions under $500,000 is getting a free pass on their league dues this year thanks to the payoff of a CUNA Mutual Group incentive program.
Members of the $14.7 billion Pentagon Federal Credit Union will have access to a range of investment and insurance products through a new partnership with USAA.
Technology can be both a benefit and a curse. The right system offers today's credit union marketers a wealth of information. But too often, that information is spread out across departmental silos, with little transparency and access.
For what seems like an eternity, credit unions had been used to working with an insurance broker model that some in the industry said prevented more revenue from flowing their way.
The boards of the $3.5 billion Kinecta FCU and $1.2 billion NuVision FCU have announced their intent to merge.
National Community Reinvestment Coalition President/CEO John Taylor told lawmakers today that credit unions "have not served minority and working communities in a satisfactory manner."
Nearly eight years after the $851 million Arrowhead Credit Union bought a firm to bring a plethora of insurance services to its membership, it recently announced that losses and lackluster profits led to the cooperative selling the subsidiary.