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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

admin1 min readNovember 16, 2020

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

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The League of Southeastern Credit Unions & Affiliates represents nearly 300 credit unions throughout Alabama, Florida, and Georgia. It has a combined total of almost $200 billion in assets and 12.4 million members. LSCU provides advocacy, compliance services, education and training, cooperative initiatives, and communications.

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