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Interchange income at credit unions swaps places with punitive fees as a growing driver of industry revenue.
Credit unions generate income in a multitude of ways to stay competitive in a narrowing margin environment.
The national average for each of these six mighty metrics is less than 10 percentage points, but even a change of a few basis points can make a big difference to a credit union.
Besting national averages across various penetration and efficiency rates, financial cooperatives in the Keystone State are efficiently serving members and expanding books of business with their current staffing models.
The Loan Star State has the highest number of credit unions at 475, and its stellar growth and member metrics evokes the saying “Don’t mess with Texas.”
Lending and asset growth have been capturing industry headlines, but tight margins from sustained low interest rates and slowly rising operating expenses make some other benchmarks worth watching.
Third quarter performance data showcases credit union successes in lending and shares.
Making it easy to modify loans increases yield and revenue while building loyal relationships to last beyond the original note.
Credit unions can and should identify HELOC candidates and win that business before interest rates rise.
Second quarter performance data showcases current and future areas of growth for credit unions, including loans, shares, and variety of income.
The benefits are endless!