Three ways to broaden your revenue stream

In the wake of economic instability and shifting financial winds, you’ve likely been a part of several discussions at your credit union or community bank that focus on ways to keep the money flowing. Essentially, you’re looking for ways to broaden your revenue stream. Here are a few more ideas.

Go after the low-hanging fruit

Marketing likes to look at checking account penetration rates. But what about debit card transactions? Every time a member swipes that card, you get a cut. When they’re ready to buy, you want members to think of you first and foremost. Not top-of-wallet; top-of-mind.

There are so many disruptors in the payments industry, but that doesn’t mean there’s no money left on the table. Stay top of mind and give members a reason to use you when they spend.

 

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