Agreement adds contract negotiations for credit unions to reduce expenses and enhance service
FOR IMMEDIATE RELEASE
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.”
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, 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.