COLUMBUS, Ohio — Despite different products and services, and operating on much thinner margins, the noninterest income of corporates varies as much as their natural person counterparts.
Credit Union Times discussed noninterest income and the role it plays in their budgets with four corporates, and noninterest income strategies had little to do with asset size or investment market conditions. The corporates included the $1.8 billion Virginia Corporate, the $1.5 billion Volunteer Corporate, the $4 billion Corporate One and the $13 billion Southwest Corporate.
Corporate One led the pack in noninterest income, raking in $19 million last year, accounting for nearly half of its net income. Melissa Ashley, vice president/chief financial officer, credited that success to the refusal to simply remarket other products.
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