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Article: Examining Exactly Where Credit Unions Are Losing Money.(Brief Article)
- Article from:
- Credit Union Journal
- Article date:
- April 17, 2000
- Author:
CopyrightCOPYRIGHT 2000 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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On which products is your credit union, and by default your members, losing money? It's among the most vexing of questions a credit union may ask itself. And it's compounded by related questions, such as which formula does the credit union use to determine product profitability, does that formula include all related activities, and what is the credit union's philosophy toward product profitability? Is there ever a good reason to knowingly lose money on a product? Yes, said most in the audience of a breakout session at CUES' Marketing, operations & Technology Conference. But does it ever make sense to unknowingly lose money on a product? No, stressed Michael Kohl, ...