Crafting a noninterest income strategy is an excellent way for credit unions to boost their revenue, but turning members off by unwanted fees in the process can defeat the whole purpose. Thats the premise of a new report from Filene Research Institute in Madison, Wis. titled, In Search of Member-Friendly...
Maryland is the richest state in the union with a median household income of $70,004, a cool $20,000 above the national average. However, as of June 30 Marylands credit unions reported just 61 basis points worth of profit, well below the national average of 0.86% ROA.
Thanks to the real estate bubble and its aftermath in the Great Recession, housing finance has become an increasingly important driver for credit union membership, according to credit union executives around the country.
When CUNA Mutual Group set out to shake up a program that had grown a bit disjointed, the company went straight to members and credit unions to gather feedback on what changes needed to be made.
