Increasing non-interest income: 3 ways analytics can help

Historically, credit unions’ major focus was on interest income earned from loans. Prior to 2010, it accounted for 80% of overall income and was plentiful enough to push other sources down the list of priorities.

It’s a different environment today. Interest rates have remained low for the last decade, and regulatory changes are squeezing revenue in areas like interchange income. As a result, credit unions’ focus has strategically shifted toward boosting sources of non-interest income.

Regardless of size, most credit unions have increasing non-interest income as a goal in 2020 – and fortunately, there are numerous opportunities for growth. Here are three ways we help credit unions achieve non-interest income growth.

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