Dec 16, 2021
Potential Solutions for Pressure on Non-Interest Income
Increased competition, FinTechs, and political pressures are changing the environment for noninterest income. These shifts can create opportunities and/or potential strains to earnings. As a result, institutions are looking for solutions to offset pressure on overdraft fees, NSF, interchange income, along with other income streams. How can institutions improve service to members while protecting or increasing earnings for the future?
In this roundtable, Rob Johnson, President from c. myers, and Tony Hildesheim, COO at Redwood Credit Union, will share ideas and considerations while also drawing ideas from the participants. Some of the topics will include considerations around and the potential impacts to:
- Overdraft protection and NSF – angles to consider in the evaluation of changing or eliminating the program
- Payments and interchange income – BNPL, P2P, P2B, etc
- Improved service and creating value for members
- Adjusting sources of revenue to offset earnings pressure
Tony will share insights from a $7B credit union that is committed to passionately serving the best interests of their members, employees, and communities. They have been continuously enhancing total member experience, continuing to achieve top NPS scores, and using data to better understand member needs – all while delivering strong earnings to support high membership and asset growth.
Rob will share insights from c. myers’ work with over 600 financial institutions, including 200+ with assets over $1 billion. This includes perspective from over 200 planning sessions this year, many of which have been focused on strengthening the business model, for which non-interest income plays a big role.
C. myers will speak on Thursday, December 16 at 10:00 am MT.