Credit unions, in increasing numbers, are closing branches,laying off employees and freezing scheduled projects. Unlike thebanking industry, credit unions are trying hard to maintainrespective employee rosters by moving positions around and placinga hiring freeze. Despite best intentions, however, thesetraditional approaches are not working as the economy continues toregroup. A new approach is needed.

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

After successfully mediating countless vendor re-negotiations onbehalf of credit unions, a successful consultant understands that aprogressive, transparent approach lays the ground work for apositive relationship moving forward. Conversely, without oversightand acquired knowledge, credit unions that undertakere-negotiations without expertise lay the foundation for anunpredictable and possibly negative long-term relationship.