Four Letters. Infinite Potential.
Credit Union Vendor Management Enters Partnership with JMFA for Contract Negotiations

Credit Union Vendor Management Enters Partnership with JMFA for Contract Negotiations

Agreement adds contract negotiations for credit unions to reduce expenses and enhance service


April 27, 2020

TALLAHASSEE, Fla. - Credit Union Vendor Management (CUVM), the vendor management solution for LEVERAGE, Credit Union Solutions Group, and Mountain West Credit Union Association, announces a business partnership with John M. Floyd & Associates (JMFA) Contract Optimizer as the preferred provider of vendor contract negotiation services for credit unions.

The JMFA Contract Optimizer program provides expert review and negotiation of existing third-party vendor contracts to cut expenses and achieve better terms on the products and services credit unions use every day—while reducing the time constraints for credit union staff that come with the review and negotiations process. This 100 percent contingency-based service provides assessment of how existing service contracts and agreements rate in pricing, service and support—as well as contract terms and conditions—in order to find and maximize savings for debit and credit card processing, VISA/MasterCard card brand agreements, outsourced core data processing, internet banking services and much more.

The service provides the resources and ongoing consulting support to help credit unions enhance service delivery and identify cost-saving opportunities to strengthen their performance.

According to CUVM Vice President Kelli Silvernale, JMFA’s expertise in cost reduction strategies and overall performance enhancement, along with the company’s record of consistent service quality and consulting expertise, were paramount in the decision to expand this partnership agreement.

“The goal of CUVM has always been to provide simple solutions for vendor management that help lighten the burden and often decrease expenses for credit unions,” she said. “We believe JMFA’s expertise in contract analysis and negotiations fit perfectly with those goals. This new partnership allows us to provide more resources for our clients at a time when cutting expenses is vital.”

As competition in the industry continues to increase, it is imperative for credit unions to have a full complement of strategies and resources that allow them to remain successful in the marketplace, according to Kelly Flynn, national sales director, JMFA Contract Optimizer.

“When it comes to successful contract negotiations: organization, timing and knowledge of industry contract prices, terms and conditions are essential to successful outcomes,” she said. “We are excited to partner with CUVM to offer proven advice and industry experience to help their affiliated credit unions successfully reduce expenses and achieve measurable performance results, as they focus on providing essential financial services in their communities.”


To learn more about the expanded resources this new contract provides, please contact Kelli Silvernale at kelli@cuvm.org or Kelly Flynn at kelly.flynn@jmfa.com. 


JMFA is one of the most trusted names in the industry. Whether it’s recovering lost revenue, uncovering new savings with vendor contract negotiations, creating more value, improving members’ experiences or delivering a 100 percent compliant overdraft service—JMFA can help you deliver measurable results with proven solutions. We are proud to be a preferred provider among many industry groups. To learn more, please contact your local representative, visit www.jmfa.com  or call us at (800) 809-2307.



CUVM provides simple, proven solutions for all aspects of credit union vendor management. Currently serving over 200 clients in 34 states, CUVM streamlines the vendor management process, centralizes storage and retrieval of all due diligence documentation, meets NCUA requirements, provides seamless disaster recovery, and ensures that all contracts are compliance friendly, while at the same time helping credit unions save time and lower operational expenses. Specializing exclusively in vendor management, CUVM provides unprecedented personal service. To learn more, visit www.cuvm.org.




100% 12 months 2020 2020 vision 40 years abusive abusiveness Academy account holder account holder retention account holder strategies account holder strategies; growth strategies; account holders accountability Achieve achievements Advancements Advice Agreement alerts analysis Analytics announcement ask the expert Assistance ATM ATMs Attendees attorneys attracting talent auto loans Automation B2B Balance Bank Bank of Pacific Banking banking services banks banks and credit unions batching Benefit best practices board governance board member board of directors Bob Layendecker bottom line branch equipment branch profitability branding Bryan Hanks budget budgets bundling business business culture business environment business practices business processes business strategies calendar career advice Career Goal CARES Act case studies Case Study CDC CEO CEO onboarding certainty CFPB Challenges change charitable Checklist Cher Cheryl Lawson Choose Chris Karstens claim clarity class action class-action lawsuit Classroom clients Cloud Cohron collections CommFirst Federal Credit Union commitment committed Communication communications communities community community banks Community Outreach Referral Program Competition Competitive Complaint Compliance compliance examinations compliance review compliance risks compliant condition conduct Conferences connection Consistency Consistent consultant Consultation consulting Consumer Consumer FInancial Protection Bureau consumer protection Consumer-focused Consumers Contingency Contingency Pricing contingency-based contingency-based fees Contract Contract Analysis Contract Negotiation contract negotiations contract negotiator Contract Optimizer Contract Renegotiations contract review contract staffing Contracts Convenience core processor contracts Cornerstone Credit Union League coronavirus corporate culture corporate governance costs Courtesy Pay COVID-19 CPE credits Credit Card credit card contracts credit card processing credit cards credit report Credit Union Credit Union Vendor Management credit unions crisis Crissandra Fry CSS culture customer customer experience customer service CUVM cyber security Damian Data Data Analytics database Deal debit debit card contracts Debt deceptive Decisions Demand Letters Department of Labor Deposit deposits Development Dick Miller digital directors Disclosed disclosures discounts Discussion Dodd-Frank Act dollars donation Donna Sumrall Dynamic economy Education efficiency studies election Email Emergencies Emergency employed employee employee retention employees EMV migration enforce enforcement Engagement Errors evaluation Evolve executive search Expectations Expense expense management expense reduction expenses Experience Expert expert negotiations expertise Experts expire Facilitators families FastTrack FDIC Federal Reserve Federal Reserve Board fee Feedback fees Financial Financial Institution financial institutions financial services financial stability Financial Worry FinTech Fixed limits Fixed-limit Floyd's Forum Forrester Free Analysis full disclosure Fully Fully Disclosed fully disclosed overdraft program funds Gen Z Generating Income generating leads generation Generation Z Gift global Goals governance government government agencies Grow Gym Halloween Hammond Happiness health hiring HKW Holiday Holidays Houston Area Food Bank Houston Livestock Show and Rodeo HR HR policies Hubur human capital human resources Implementation important Improved improved efficiencies improved results Inc. income income enhancement Industry information technology Innovate Innovative Institution interests internet banking services interview strategies interview tips IT contracts Jackson Jai Jai Darden James Jamone Moore Jan Southern Jennifer Peoples Jennifer Simmons Jim Griffis Jimmy Nguyen JMFA JMFA Academy JMFA clients JMFA News JMFA Next Generation Overdraft Privilege Joe Marsh John Cohron John M. Floyd John M. Floyd & Associates judicial justification Kelli Silvernale NCUA Kelly Flynn Kennedy knowledge law lawsuits Lawyer leaders leadership Learn Learning Legal legal risk legislative lending program Lesson leverage Limit Limits Literacy litigation litigators lives loans local Long Term Long-Term lost revenue Maggie Thompson Maintenance manage Managed management Mark Roe marketing marketplace Mary Soergel Matrix Matrix-based measurable measurable results meeting Member Members Midwest Region Millennial Millennials mindset minimalism minimalist Mississippi Missouri Mobile Banking Model monetary Money Morrison & Foerster Partner mortgages Most Valuable Provider NAFCU NCUA negative balance Negative Settlement Negotiate negotiating contracts negotiator Net Operating Analysis New Decade New Year New Year's Next Generation JMFA Overdraft Privilege NOA Non-Compliant non-disclosed Non-Interest Income NSF NSF fees Obrea Poindexter OCC Officer Oliver Ireland onboarding Online Opportunities Opportunity Opt-In organization Organizational Health Outcomes outsourcing Overdraft overdraft compliance overdraft coverage overdraft fees overdraft practices Overdraft Privilege overdraft privilege program overdraft program Overdraft programs overdraft protection programs Overdraft Protection Service overdraft service overdraft services overdraft strategy overdrafts overdrawn Overspending pandemic Partner partnership Paul McFarland paycheck emergency payday loans Payments Pennsylvania performance personnel physical distancing plan planning Plus4 Credit Union podcast policies Policy POS Positive Swipe practice practices Press Release Privilege Manager CRM proactive procedure process process improvement Processing product profitability Productivity Products Professional Profitability Improvement Program Program Management programs prohibited project staffing Promotions Proposals Provider providers PwC Quality quantity Reactive reality Recruitment Services recruitment strategies reduce expenses refer referral Reg E regional director regulation Regulation E regulations regulators regulatory relationship Relationships remote Renegotiate Renewal Reporting Reputation resolutions Resources Results Retail Retaining Employees Retention Retirement revenue revenue enhancement review Richard Miller risk risks ROI Ron Jennings Roy Roy Seifert Rules Ryan Armstrong Sales Salesforce Satisfaction savings Scrutiny secrets Security senate Senior Relationship Manager service service agreements service contracts service delivery Services Sessions settlement shareholders Sheila Bridges Shopping social distancing Social Events social media Software Solution solutions specialization Spending staff staff development staff spotlight staff training staffing staffing gaps staffing studies staffing study stakeholders standard Statistics stimulus payments Strategic Planning Strategies Strategy streamline Stressful succeed Success success factors Succession plan succession planning Support survey Susan Prell system talent team team members technology technology costs technology upgrades technology utilization temporary staff term Text Third-Party Expert third-party providers third-party vendor contracts third-party vendors threat three Tim Strandquist Time Tools Tracking Trainer training transaction Transparency Transparent Travel Treats trends Trey Martin Trust UDAAP uncertain times unemployment unfair updates Upgrades Value Variable Variable Limits Vendor vendor agreements vendor contract negotiations vendor contracts vendor management services vendor performance vendors video violation volunteer Walker Washington Washington Savings Bank webinar Webinars weeks Westmoreland Community FCU Whitney & Company Wish list women work Workshops YouTube