SHREWSBURY, N.J. — Once a dirty word in the credit union industry for its relation to "fees," non-interest income is now a major contributor to credit unions' income streams.
But it's not just the typical fees any more. It's much more than overdraft fees and credit card fees. It's fee income for offering investment, insurance and mortgage services. It's credit unions getting into new areas like travel agencies. And of course interchange income is one of the largest sources of non-interest income.
The below list from Callahan & Associates looks at the top 50 credit unions by non-interest income as of March 31, 2007. Readers will find the country's largest CUs have the most non-interest income. Interestingly, 10 credit unions on this list have more than 2% non-interest income to average assets, so it is obviously a staple for these CUs. The return-on-assets is also provided to show readers in this era of declining ROA, credit unions with strong non-interest income have solid ROA.
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