Credit Unions Becoming More Reliant on Fees to Remain Profitable
An October 25, 2018 article in CU Times featured an article in the New York Times criticizing a credit union that charged “exorbitant” fees to hard pressed members.
Credit unions have become more reliant on fees to remain profitable. In many cases, credit unions are subsidizing their unprofitable loan programs with fee income.
Pricing loans using a tested and proven Risk Based Loan Pricing model such as that offered by TCT helps assure credit unions that their loan programs are contributing to profitability.