Most Profitable Member BehaviorsProbed

ORLANDO, Fla. - (06/17/05) -- It's no secret to any credit unionthat profitability is squeezed. What remains secret to many CUs,according to one person, is which member behaviors are contributingto profitability, and which are detracting. Bill Goedken, presidentand CEO of Profitstar, Inc., said during CUNA Mutual's DiscoveryConference here that many credit unions are acting upon noinformation or bad information when it comes to analyzingprofitability. In fact, Goedken said many CUs make the mistake ofciting their cross-sales numbers in measuring success, when allthey have done is sell the member into a money-losing relationship.Goedken added that one other trend his company is seeing is moremembers at the profit extremes-both most profitable and mostunprofitable-leading to more polarization amongmembership.