Depending on who’s offering an opinion, the Patient Protection and Affordable Care Act, commonly referred to as Obamacare by critics, is poised to either dismantle insurance coverage as we know it or will finally offer services to those who just don’t earn enough to pay for medical services.
CUSOs are the secret weapon of the credit union industry. That was a phrase that we used with our board of directors when we last updated them on the eight CUSOs that we own.
In January, we learned the Federal Reserve is unlikely to raise interest rates until late 2014. With recent declining net interest margins, regulatory reform eating away at our fee income, the NCUA’s assessments and other earnings pressures on the horizon, improving noninterest income is more important than ever.
A combination of factors has credit unions seaching for noninterest income in earnest.
Debit interchange and overdrafts are still expected to be the top noninterest income drivers for credit unions, despite changes being made to both sources.