SAN DIEGO-This year credit unions can add to growth by subtracting, contends Ann Legg, VP-marketing at the $190-million Cabrillo CU here, noting the loan losses affecting many credit unions have required attention.
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Beyond that, another important step will be looking at different income sources, asserted Legg. "Because now it won't be net interest margin and it may not be interchange income. It means relooking at the business model and determining what is it for each individual credit union that is going to lead to sustainable growth."
