Baytown, TX / Madison, WI (PRWEB) January 14, 2005
CUNA and Affiliates, based in Madison, WI, and Washington, DC, has expanded its strategic alliance relationship with John M. Floyd & Associates, Inc. (JMFA) of Baytown, TX, to offer a broader range of performance enhancing products and services designed to help credit unions be more competitive and efficient in a changing economic environment.
JMFA, the first company to develop an automated, nondiscriminatory overdraft program in 1988, has been jointly marketing the high profile, value-added service with CUNA since September 2003.
With its network of affiliated state credit union leagues, Credit Union National Association serves nearly 90 percent of AmericaÂs 9,500 credit unions, which are owned by more than 83 million consumer members. Credit unions are not for profit cooperatives providing affordable financial services to people from all walks of life. CUNA Strategic Services, Inc. (CSSI), owned jointly by CUNA and the state leagues, provides credit unions with access to high quality products, services and technologies delivered with a competitive advantage made possible through volume pricing and strategic program development.
ÂThis expansion is a carefully considered and natural extension of our alliance on JMFA Overdraft Privilegesm,Â said Wes Millar, SVP of Strategic Alliances for CUNA & Affiliates. ÂThe overdraft program has been utilized by our members, featuring a 150% increase in the number of credit unions using the service in the first year of our strategic alliance. JMFAÂs consumer-focus and attention to regulatory compliance and best management practices further heightened its acceptance and reliability.Â
ÂCredit unions nationwide are facing rising interest rates, which can squeeze what they can earn between their loans and their savings accounts,Â CEO John M. Floyd observed. ÂMany need to curtail unnecessary expenses and to implement new sources of income, if they are to prosper and grow.Â
JMFA has implemented more than 1,850 performance-enhancing programs in the past 33 years. Also among its products and services (http://www.JMFA.com) available to credit unions are:
Â Process Improvement: Proven techniques for effective workflow analysis and design to increase productivity without sacrificing service. These include operational enhancements for consolidation and mergers; improved technology utilization; ÂBest PracticesÂ implementation; improved systems and procedures; enhanced product design; outsourcing alternatives; and programs for centralized operations and lending, expense control, staffing studies and salary administration.
Â JMFA Account AcquisitionSM: A comprehensive program designed to increase key account penetration, leveraging membersÂ Âshare-of-walletÂ and resulting in improved cross-selling opportunities.
Â Non-Interest Income Enhancement: JMFA will review systems, create new products and implement the right design for enhancing a credit unionÂs income.
In conjunction with overdraft privilege and the expanded consulting services, a Sales & Service module covers the tools and techniques necessary to maximize a credit unionÂs product and service delivery systems for increased business from its existing members,Â Floyd explained. ÂWe analyze the market and assess customer needs. Our experts cover call center services, incentive programs, sales and on-site product training, and success monitoring systems.Â
ÂEvery engagement by JMFA is a diligently planned process specific to each credit union, its organization and market,Â noted Doug Tangwall, CUNA Product Manager. ÂIt begins with consultation, a strategic preliminary analysis and a detailed discussion of opportunities.
ÂFollowing the acceptance of a comprehensive proposal and its thorough, turn-key implementation process, JMFA executes an extensive follow-up to evaluate results and to identify additional, potential improvements,Â Tangwall said. ÂWith most applications, Floyd & Associates provides a no-obligation, preliminary analysis and program projections.Â
For More Information or Interviews:
Steve Swanston, EVP-Sales, John M. Floyd & Associates, Baytown, TX, 800-809-2307, Steve.Swanston@JMFA.com
Doug Tangwall, Product Manager, CUNA and Affiliates, 608-231-4073; firstname.lastname@example.org,
Katye Long, Public Relations Specialist, CUNA and Affiliates, 608-231-4038, email@example.com
Preston F. Kirk, APR, Kirk Public Relations, Austin, TX, 830-693-4447; firstname.lastname@example.org
# # #