RIVERSIDE, Calif. — The push to increase non-interest income is a popular method of offsetting slim-to-none net interest margins, and nowhere has this strategy been more effective than Altura Credit Union.
According to NCUA 5300 reports, in 2006, the $867 million Altura earned almost as much non-interest income as it did net interest income–$27 million and $28 million, respectively.
And believe it or not, those numbers reverse an even more impressive trend: Altura's non-interest income actually exceeded net interest gains in 2005 and 2004.
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