Optimizing non-interest income
Begin by conducting a market study of competitors.
When looking for ways to increase revenue, credit union leaders know they must look beyond interest income.
Richard Holtzman, senior vice president of the consulting service group at Ceto and Associates, explained how credit unions can use competitive intelligence to optimize non-interest income during the CUNA Finance Council Virtual Conference Collection.
Holtzman cites three challenges credit unions face when trying to boost non-interest income:
- Visibility, or getting accurate information about competitors. “We like to think of this as a puzzle,” Holtzman says. “Having all of the pieces of the puzzle is important.”
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