Credit Unions are under pressure to restructure, standardize and potentially reduce the fees assessed to members. For most Credit Unions, it is difficult to get a quick and accurate understanding of the impact to membership and the credit union financials from making changes to the fee policy.
CFS Insight’s Member Fee model can used to get a deeper understanding of how members interact with fees. It will help the Credit Unions understand and answer questions like:
- Which members regularaly generate fees?
- How much revenue is actaull realized in the financials from fee assements?
- If a member’s share account becomes negative, how long does the balance remain negative?
- How quickly does an account that goes negative recover and enter positive balance territory?
With these foundational elements, the Credit Union will be able to perform ‘What If’ analysis on the impact of changing certain conditions like restricting how often or under what conditions a member will generate a fee. This will allow the Credit Union to have data driven insight into the impact of fee policy changes before adopting such changes.
