Households That Use Investment ServicesGenerate More Revenue

LAS VEGAS - (05/18/06) – Investment services remains anuntapped source of income for many credit unions, according towell-known industry consultant Gary Raddon. Raddon, chairman ofRaddon Financial Group, urged credit unions during the annualNational Association of CUSOs annual conference to reject long-heldfears that offering investment alternatives, such as brokerageservices, to members will only lead to disintermediation andcannibalization of deposits. Those fears are unwarranted, saidRaddon, noting that households that use investment and/or insuranceservices at their credit unions generate 34% of income at anaverage credit union.