Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Products
Report Exceptional service is key to profitability
MADISON, Wis. (7/9/08)--Exceptional service is the key to profitability, according to a new best practices report from the Credit Union National Association (CUNA). Credit Union Magazine "Best Practices: Secrets of High-ROA Credit Unions” describes the strategies of eight credit unions for keeping their return on assets (ROA) above the national credit union average. The credit unions--ranging in assets from $1 million to $1.5 billion--average a 1.5% ROA and say their profitability is a byproduct of exceptional service. Each of the featured credit unions has taken a different approach to achieve profitability, but all display certain characteristics--like focusing on member needs. They recognize that credit unions can give back more to members through higher deposit rates, lower loan rates, lower and less frequent fees, and dividends. The credit unions watch their spending, but avoid cost-cutting measures that negatively affect member service or satisfaction, the report said. For more information, use the links.
Other Resources

RSS





print
News Now LiveWire
.@LACULeague in @DailyComet: #creditunions' "old" benefits attractive to new generation http://t.co/AzOv3nB7IB
1 day ago
At @FTC request, court halts operations of an alleged debt-relief scammer calling itself “FTC Credit Solutions.” http://t.co/qMsDBmKExH
3 hours ago
.@daytondailynews : The secret is out about #creditunions http://t.co/Aqu3pFTROV @DayAirCU @CODECreditUnion
3 hours ago
.@CUNA's @Nussle on @SenatorReid :(2of2)On behalf of more than 102M #CU members,I thank him 4 his leadership over the yrs/wish him the best.
5 hours ago
.@CUNA CEO Nussle on Sen. Reid’s decision not 2 seek re-election (1of2): Sen. Reid has a long history of #CU support throughout his career.
5 hours ago