The interchange fight in Congress may be heading toward a climax in the next few weeks but merger-ready Sound Credit Union has long prepared for an income hit certain to bring about a product repricing, according to Richard Brandsma, its president/CEO.
Brandsma said he remains concerned how many of the nation's small and medium-size CUs, having withstood the assessment shock, can now absorb the revenue loss and still grow should the delay bill fail.
It's much easier for larger CUs to handle this kind of financial trauma, Brandsma said, adding that even his $1.1 billion institution "will have to consider our platter" of checking products to make conditional increases.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
- Exclusive discounts on ALM and CU Times events.
- Access to other award-winning ALM websites including Law.com and GlobeSt.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
