Non-Interest Income (and How Fintechs Can Help)

This piece is based off of a roundtable discussion at the CU 2.0 Brainstorm Event in January 2022. It’s not intended to be comprehensive—rather, it will provide a quick look at new opportunities for non-interest income for credit unions (and where fintechs are providing a lift).

As noted in the panel, credit unions survive by two types of income: interest, and non-interest. Yet while loans and interest income often get the spotlight and the fancy tools, non-interest income is a dependable, critical income source as well.

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The Digital Experience: Why You Need to Survey Members

COVID-19 has changed a lot of things in the last few months. Almost all of our shopping and service needs are online now. Members of credit unions are having to rely on digital channels more than ever before. There has been a massive increase in mobile and online banking since the pandemic started.

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Ten New Ideas to Help Your Credit Union Handle COVID-19

The novel coronavirus (COVID-19) is escalating pretty quickly, both nationally and abroad. Between Ongoing Operations and CU 2.0, we’re seeing the challenges that credit unions are facing—and we’re getting ideas about how to fix them.

Now that COVID-19 is officially a global pandemic, businesses and entire industries are taking precautions. Schools are closed, events are canceled, and some cities are even enforcing lockdowns. Credit unions are also feeling the pressure.

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What Does Marketing Automation for Credit Unions Cost?

Generating and managing credit union revenue is a chore, and being not-for-profit doesn’t make it any easier. So, anything that lets you do more work with less effort is a win—especially if it also increases profitability per member.

Marketing automation is the obvious next step for credit union marketing departments. It helps to reduce member churn, engage members, and identify member needs and behavior.

You might be asking yourself, “Is that something my credit union can afford?”

The answer is almost certainly “yes.” Let’s look at the cost of marketing automation for credit unions.

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