Snyder wrote on the Callahan's Web site the following assertion: "The [aggregate] data [from B/Ds] show that we have a long way to go given that on average the invested assets that we are overseeing represent only 7.1% of the total assets of the entire credit union industry. If we as an industry are truly overseeing the insured and uninsured assets of our members, an argument can be made that the member's investment assets that we manage should exceed our own overall assets."

Asked how he came to that, he responded that it's all about wallet share and related an eye-opening game he plays with boards of directors at CUs for which he consults. "I ask them to tally in their heads a dollar figure for their non-insured investments like 401 (k) and mutual funds, etc., and then do the same for their insured accounts like CDs, savings, etc. It's usually about 25% on the insured side and 75% on the non-insured side. So for every three dollars in a mutual fund there's one in an insured account." Because the same ratio is likely across the board, it becomes clear that members aren't giving us all their wallet share–we know that–but if we want a more robust relationship with members, we need to capture much of that back."

It's plain, agreed Johnson and Snyder (and verified by data from Raddon and Associates as well) that members with investment relationships at CUs have higher loan balances and other account balances as well. This plays right to the need to increase income from non-interest vehicles, they said. CEOs know that margins are razor thin, the cost of funds may rise and it's absolutely necessary for CUs to fully develop profits on the non-interest side of the ledger.

There is one CU that already manages more money in member investments than it has in total assets, and that's Addison Avenue CU in Palo Alto, Calif., where Snyder ran the investment CUSO, and there may be others who are close but still unknown.

The arc of growth in CU investment programs started in the mid-80s Snyder said, and took off with the market boom. In the mid-90s (when the early adopters were well-established and blazing a path) it became mainstream for CUs to either start a CUSO or outsource a program through a turnkey operation. "Now, with incidental powers, there's not much a credit union can't do," Snyder said.

The project began when Snyder went to Chip Filson in November 2006 and broached the idea of working with SCS. "Chip's a very insightful guy, and he knew that the call report data from NCUA provides little on the subject of integration with investments. So in January of this year we did a proposal to partners in the Trust for Credit Unions where we got a great response," Snyder said.

"Feedback from the partners was also helpful to assure that credit unions would be getting the kind of information they thought would be helpful," said Johnson. Then, Snyder developed the initial template (the measures and data required) and held a series of teleconferences with a core group to hone content.

The wealth of information to be gained may help to change the market share of investment dollars CU's manage exponentially if it is applied to make faltering programs succeed and inspires CUs without programs to start them.

"Most CEOs intuitively know they aren't doing as well as they could or should. This data will give us the ability to see others that do well and by seeing the cross-section make improvement," said Snyder.

Callahan/SCS Consulting have created an online survey form to streamline the collection of data relevant to the two main types of credit union programs, (managed programs or dual employee programs). Credit unions can input their own data regarding program revenue and expenses. Data will be collected through the end of October and a report will be generated in about eight weeks, said Johnson. It will be published and available for purchase in January.

–[email protected]