A close up blue toned image of a magnifying glass held out in front of page in a legal contract document. Sheets of paperwork are on a wooden desk with a ink pen close to a signed page. Contract text and signature are fake. Shot with shallow depth of field with focus on the word ‘Contract’.

JMFA shares ins and outs of contract negotiation for credit unions

For most credit unions, there are hidden savings opportunities within their existing vendor contracts. Is your current debit/credit card processing or core data processing contract up for renewal in 2021 or 2022? It’s possible COVID-19 might have prompted your credit union to change strategic plans, including rolling out new contactless cards or upgrading or rolling out new digital wallet features for members.

JMFA offers a podcast, “Learn the Ins and Outs of Contract Negotiations to Maximize Savings and More.” Listen to this podcast for some real-world examples and practical advice for securing savings in your vendor contracts without creating additional workload. Plus, you’ll learn useful tips on how to improve the bottom line in both the short-term and years to come. Click here for the podcast.

Learn how Greenwood Credit Union secured a $325,000 credit towards future technology investments to enhance their service delivery—$2.2 million was the total savings for the credit union. Read more about their success story 

Please contact your LEVERAGE BDC for additional details:

Karen Frazee  karen.frazee@myleverage.com  850.545.4825

Steve Pullara   steven.pullara@myleverage.com    813.404.6877

Donnette Logan   Donnette.Logan@myleverage.com   205.294.4227

Taylor Sheffield  taylor.sheffield@myleverage.com    205.457.4261

Written by
Cara Clark
View all articles

About Us

The League of Southeastern Credit Unions & Affiliates represents 342 credit unions in Alabama, Florida and Georgia, with a combined total of $118.63 billion in assets and more than 10.1 million members. LSCU & Affiliates provides legislative and regulatory advocacy; education and training; cooperative initiatives (including financial education outreach); public messaging; information services; and business solutions.

LSCU Mission Statement

To create an environment that enables credit unions to grow and succeed.

LSCU Vision Statement

To be the trusted advocate and preferred source of information for credit unions.

If you need to reach us, e-mail communications@lscu.coop

Social Channels

Follow us on all major social media platforms.