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Madison, Wisconsin Credit Union Shaves 18% Off Vendor Offer by Checking in with JMFA

Dane County Credit Union was planning to upgrade its Internet banking platform. They were interested in a more innovative and sophisticated model—not only so it would integrate with more third-party services, but to give members online, mobile and tablet access.

With proposals in hand, Dane County Credit Union’s President and CEO Shay Santos brought in the JMFA Contract Optimizer team to see if the offers and terms could be improved. With the program’s contingency-based pricing, Santos knew he had nothing to lose by having JMFA evaluate and negotiate the savings opportunities.

 

After learning more about the credit union’s goals and reviewing the proposals, JMFA went to work. Once negotiations were complete, Dane County Credit Union accepted an offer saving them $162,451 over the 3-year contract—an additional 18% savings over the vendor’s initial proposal.

 

All in all, the credit union walked away with an upgraded Internet banking system that ended up costing less than the one they were replacing—plus extra money back in their budget.”

 


ABOUT JOHN M. FLOYD & ASSOCIATES (JMFA)
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, serving members better or delivering a 100% compliant overdraft service—JMFA can help you deliver measurable results with proven solutions. To learn more, please contact your local representative or call us at (800) 809-2307.