BOSTON — Credit unions that want to improve their non-interest income numbers need to strike a balance between reversing all fees and taking a zero-tolerance approach, according to CEO Paul Muse of the $580 million 1st Advantage FCU.
The leader of the Yorktown, Va.-based institution discussed his credit union's non-interest income strategy during a Thursday breakout session at NAFCU's 46th Annual Conference in Boston.
“Our approach had been to give it all back, which didn't help the credit union or encourage users of services like overdraft or courtesy pay to look for other solutions that would save them money,” Muse said.
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