How do credit unions know how well their business deposit programs are doing? To offer a gauge, CU Business Group LLC’s new Business Deposit Benchmarking Survey collected data from 41 credit unions in asset sizes ranging from $100 million to $4.5 billion.   

Credit unions still have much ground to cover when it comes to the number of business checking accounts that are opened each month, said CUBG President/CEO Larry Middleman.

Based on the data it collected, CUBG said for long-term relationships, credit unions should focus on top tier money account rates.

Credit unions with more than $300 million in assets experienced higher fee income on business checking accounts.

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