Credit unions, in increasing numbers, are closing branches, laying off employees and freezing scheduled projects. Unlike the banking industry, credit unions are trying hard to maintain respective employee rosters by moving positions around and placing a hiring freeze. Despite best intentions, however, these traditional approaches are not working as the economy continues to regroup. A new approach is needed.

It's no longer affordable or feasible for credit unions not to seek out current market pricing upon renewal of all contracts. On the technology front this is often a muddied practice. When effectively executed, an experienced outside expert can save a credit union hundreds of thousands, possibly millions, of dollars over a period of one to five years.

After successfully mediating countless vendor re-negotiations on behalf of credit unions, a successful consultant understands that a progressive, transparent approach lays the ground work for a positive relationship moving forward. Conversely, without oversight and acquired knowledge, credit unions that undertake re-negotiations without expertise lay the foundation for an unpredictable and possibly negative long-term relationship.