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Case Studies

Real clients. Real-world situations. Stellar results.

We're happy to share examples of how we've helped our clients be successful in achieving their goals. You may find their situations similar to what you encounter on the job each day. Search through our featured case studies and chose the type of financial institution you’re interested in learning more about. After reviewing these case studies, let us know if you have any questions or wish to learn more. We're standing by, ready to help your institution experience similar results.

Banking & Credit Union Case Studies

 
 
Traders and Farmers Bank Case Study
State: AL

Chartered in 1906, Traders and Farmers Bank is the oldest continuous service bank in Winston County, Alabama. With $365M in assets, the bank has full-service locations in the communities of Haleyville, Double Springs, Addison, Arley and Lynn; the town of Bear Creek in Marion County and the unincorporated development of Curry in Walker County. The bank holds a 110-year commitment to community and exemplary service. With this rich history as a trusted financial services provider in the region, Traders and Farmers Bank has maintained sound local leadership to strengthen its ties with the communities it serves. 

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Performance Enhancement Client Case Study - Northeastern Institution
State: MA,ME,NH,RI,VT

As competition continues to surge from non-traditional service providers and technologies that give consumers new options for conducting financial transactions, banks and credit unions are faced with a dilemma. How do they continue to provide consumers with the highest level of service by combining legacy products with new technologies; maintain efficient staffing amidst ever-changing consumer habits; and remain profitable with fewer revenue-generating options? For one $300M asset financial institution in the Northeastern U.S., the transition to new leadership set the wheels in motion to initiate an operational review in order to meet its performance goals and remain competitive. 

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Bank of Wedowee Case Study
State: AL
Bank of Wedowee 
The Bank of Wedowee was founded in 1906, with an initial investment of $25,000. Today, with assets of $126 million, the bank offers stable, hometown banking services through its locations in the rural Alabama communities of Wedowee, Woodland and Roanoke.  Addressing the need to improve revenue and service
In order to provide its customers with assistance when they encountered a financial emergency or made an error in their checkbook, the bank implemented an overdraft program in 2004. After six years, bank management decided that they would not renew their provider contract but would continue to maintain the overdraft service, using the interface provided by their core processor. 

Windward Community Federal Credit Union Case Study
State: HI
Established in 1953, Windward Community Federal Credit Union originally served military and Department of Defense personnel on the Marine Corp Base Hawaii.  Today, membership in this $85.3 million asset credit union extends to all people who live, work, worship or attend school in the community which extends from Makapu’u Point to Chinaman’s Hat on the island of Oahu.

When the credit union’s contracts for debit card processing and core data processing were nearing the automatic renewal timeframe, Windward CFCU CEO Debbie Kim determined that it would be a good time to review the existing contracts to make sure that the credit union was getting the best possible price, along with the services that most closely met its needs. Like many small credit unions, these contracts represent a significant expense, so Kim was a bit anxious about initiating the process.


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Winslow Community Federal Credit Union
State: ME
Founded in 1958 as a small parish credit union, Winslow Community FCU has grown into a $28 million, full-community institution, serving more than 4,000 members in Winslow, Maine and surrounding communities. As economic conditions began to improve following the Great Recession, Winslow Community FCU – like many financial institutions – continued to feel the effects of low interest rates and regulatory restrictions on non-interest income. Plus, management was concerned about providing members with services that would help them to manage their finances during difficult situations.

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Malheur Federal Credit Union
State: ID,OR

 

After being locked into the same pricing structure for its credit and debit card processing services for some time, the management of Malheur Federal Credit Union became interested in taking a look at its existing vendor contract. Learn what led the credit union’s operations manager to select JMFA to conduct a review of the existing contract and how the results benefited the institution as well as its members.

 

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Montgomery County Employees Federal Credit Union
State: MD

After experiencing success with JMFA OVERDRAFT PRIVILEGE® for eight years, the leadership at Montgomery County Employees Federal Credit Union decided to undergo a program update to ensure it was completely in line with new regulatory expectations and still providing maximum benefits for the credit union and its members. Learn how JMFA’s improved overdraft solution enabled the institution to more effectively manage  its Courtesy Pay program, provided a better than expected revenue increase, and allowed the credit union to offer free checking accounts for members and eliminate a fee for PIN debit transactions.

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Rockland Trust
State: MA

Driven by  Rockland Trusts strong commitment to full compliance, efforts began to find an alternative overdraft solution that met all regulatory requirements while providing a valuable financial safety net for bank customers. Discover how JMFA’s compliance expertise, its fully-disclosed JMFA OVERDRAFT PRIVILEGE® program and on-going support have helped Rockland Trust meet its performance and customer service goals, while erasing any concerns about the bank’s ability to maintain a fully-compliant overdraft solution.


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First Financial Bank
State: AL
In 2007, with an established overdraft program in place, bank management decided to take a serious look at how to expand the benefits of the program – increased revenue for the bank and well-disclosed service for account holders to utilize for their financial needs. As part of that plan, they looked at competing overdraft solutions.
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Timberland Federal Credit Union
State: PA
In 2007, the credit union was looking for a product that would help it maintain its overdraft program, i.e., tracking member usage,
ensuring that all processes and procedures were compliant, and providing a way to bridge the nancial gap for members who
were living check to check.
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Tuscaloosa Credit Union
State: AL

Long-time client, Tuscaloosa Credit Union (TCU), expresses how the JMFA Overdraft Privilege® program provides a valuable service to its members while significantly increasing the institution's revenue. The success of the program has helped the credit union to grow and the compliance guarantee provides them with a peace of mind. Learn why TCU is a loyal client of JMFA.

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Southern Independent Bank
State: AL

In an effort to increase its service offerings and provide a way for customers to avoid merchant charges incurred when an insufficient check was returned, the management of Southern Independent Bank turned to JMFA for assistance. JMFA Overdraft Privilege® provided a fully-disclosed solution that has saved account holders from paying additional fees, while providing financial and compliance benefits for the bank. Learn more about how the program’s implementation and results have made Southern Independent Bank a satisfied client.

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Trona Valley Federal Credit Union
State: WY

Have you ever wondered if you’re getting the best pricing and service from your technology contracts? Learn how JMFA Contract Optimizer helped Trona Valley Federal Credit Union save $770,000 over a five-year period on its data processing contract, along with several thousand dollars in credits for future products, a new pricing structure and an unexpected signing bonus from a vendor they had used for eight years.

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1st Ed Credit Union
State: PA

 

Following the security breach of debit and credit cards at multiple national retail outlets in 2013 and 2014, the leadership of this small financial institution in the Eastern U.S. became concerned regarding the lack of support it was receiving from its current card processing vendor. Plus, the institution’s CEO, didn’t feel that they were getting the assistance needed to address important security issues as a result of the latest breaches – like identifying cards that had been compromised and providing assistance to the card holders.” Learn how JMFA’s contract negotiations solution led to improved service, better cardholder support and substantial contract savings.

 

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IBM Southeast Employees' Federal Credit Union
State: FL

When the IBM Southeast Employees’ Federal Credit Union CEO announced his retirement, after leading the institution for 20 years, the credit union quickly implemented a strategy to ensure uninterrupted, quality leadership for the $850M institution. A search committee appointed by the Board chairman determined the credit union’s leadership must-haves and familiarized themselves with market benchmarks for executive salary and benefits. Then, they selected a professional search firm to help them through the process and ensure a smooth, timely transition to new leadership. Learn how JMFA helped to simplify the credit union’s selection process and provided IBM SEFCU with access to quality candidate choices – resulting in a successful CEO hire, within the search committee’s expected timeframe.

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