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ATLANTIC CITY, N.J. — Brett Christensen, owner of CU Lending Advice, LLC, told New Jersey credit union executives and board members they need to own up to the financial problems in their own shops.

Credit unions should change their thinking that the economy is causing all their headaches and look inside their four walls to reveal the causes of their problems, he said. According to Christensen, credit unions are overly addicted to courtesy pay fee income. He suggested a better way to make money off members is relationship pricing based on member product usage.

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Peter Westerman

 

Credit Union Times

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