As mentioned previously, I’m still wracking my brain for a credit union category killer product to take the place of lost revenue from the decline of overdraft services. I wrote the prior article as humor, but I really have been seriously trying to think of a concept that could help. This morning, I had an epiphany. I called a friend of mine who is a very successful businessman and economist and told him about it. He actually thought it was a good idea. This surprised me because, as a lawyer, I don’t get good business ideas very often.
Yet, I’m not sure that this concept is ready for prime time blogging, so I’m calling some credit union CEO and VPs of lending friends personally to see what they think about it first. If there’s interest and if it has legs, I’ll write more about it here later. One thing I will tell you is that it is in the credit union spirit and it’s something that credit unions could collaborate on to produce.