Where does a credit union look for long-term growth today? The answer lies in noninterest income.
Historically, many credit unions have relied on lending as a primary source of income, which has built strong member relationships. There is a tremendous untapped opportunity to leverage those existing member relationships to offer solutions that members are purchasing elsewhere. Growing your percentage of noninterest income also diversifies sources of revenue.
Most important, expanding noninterest income programs can also meet member needs, creating a win-win for members and the credit union.
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