Members Could Use a Stiff Dose of Financial Advice

A September 27, 2019 article in thinkadvisor.com, written by Michael S. Fischer, shows that a third of survey respondents said they expected their finances to remain a source of stress in the future, and two in five worried that they would not enjoy their later years because of money issues.

Credit unions can create loyalty amongst their members by providing professional financial counseling and advice. The trick is making sure this service (like all services) provides incremental income that more than offsets the expenses.

TCT’s Asset/Liability Management tool with Budgeting and Profitability Projection tools allows credit union managers the ability to project the impacts proposed new services will have on profitability and equity.