With the income streams from loans stagnating and recent laws changing credit and debit card income, credit unions have had to discover other ways to increase revenues. Philosophically, charging fees for services in credit unions has always been difficult to do. However, it has now become part of the fallout from the recession. This Quickbite will address:
- Fee Trends
- Threats to Non Interest Income
- Some Strategies for CUs to Consider
- Increasing Member Relationships
- Products and Services Ratio
- What about member profitability?
- Managing Non Interest Expense
- Case Study – CU Fee Items
Speaker: Rick Menton is the president of Menton Consulting, Inc., Tulsa, Oklahoma. His consulting practice focuses on providing credit unions with project management assistance, executive recruitment, strategic management and planning facilitation and seminar and workshop presentations. Prior to forming Menton Consulting, Inc., he spent 23 years with the Minnesota and Oklahoma Credit Union Leagues in senior management positions. Additionally, he has worked as a lender, collector, mortgage lender and marketing executive for credit unions and consumer finance companies. He is a graduate of the University of Minnesota with a bachelor's of arts in communications, is a graduate of the University of Wisconsin's League Management Institute (CLE) and has attained his certified credit union executive designation (CCUE) from CUNA.