3 Es to Improve Your Credit Union’s ROA 

Member expectations have evolved, and credit unions – no matter their size – must rise to the occasion.

From digital, on-demand services to competing with the deep pockets and financial backing of for-profit banks or fintechs, credit unions must remain relevant to American consumers.

Now is the time for credit unions to get back to their collaborative roots. Credit unions don’t have the internal expertise or resources to provide most digital services in-house and don’t have the finances to support large-scale deployments. Don’t go it alone.

The coronavirus pandemic has only accelerated the digital revolution. Now is the time for credit unions to collaborate with leading solutions to drive their businesses forward for their members. CUSOs can help make this happen.

So, as we prepare to enter the new year, credit unions must commit to collaborate at large scale. Work with a CUSO to help innovate and drive costs down while offering new products and solutions. A report from NACUSO.org found that its member credit unions that were leveraging services from CUSOs earned a 32% greater ROA. With Member Support Services, your credit union will not only improve on your long-term ROA, but you’ll also be able to focus even more intently on connecting with and serving your members.

Working with CUSOs provides several benefits that the individual credit union will find difficult to build on their own. 

  1. Expertise 
  2. Economies of scale across their credit union-owners and users that can decrease significantly as users and member volume increases 
  3. Equity returns to members through digital products and services, lending, card portfolio management, data and more.

At the end of the day, isn’t that what credit unions are about? Serving your members. Let Member Support Services serve you. Contact us today!

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