Friday, January 6, 2017

Study: Fee Income Surpasses Net Income at 76 Percent of CUs

For most credit unions, fee income exceeds net income.

According to research by Moebs $ervices, 76 percent of credit unions have fee income greater than net income. In comparison, Moebs $services found that fee income exceeded net income for only 25 percent of banks.

The study noted that the increase in fee revenue at credit unions was tied to the growth in checking account at credit unions.

Mike Moebs stated that the increase in checking accounts at credit unions has allowed credit unions to take advantage of increased transaction revenue from interchange and overdrafts.

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