Tallahassee, FL (PRWEB) January 20, 2005
FCUL Service Group, Inc. of Tallahassee, the Florida Credit Union League's services corporation, has contracted with John M. Floyd & Associates (http://www.JMFA.com) of Baytown (Houston) for a broad range of products and services designed to help credit unions be more efficient and competitive in an unpredictable economic environment.
The League, comprised of 240 affiliated credit unions serving about 4 million Florida members, first partnered with the 33-year-old performance consulting company in May 2003 to jointly market JMFA Overdraft Privilegesm. The fully integrated, automated service helps accountholders avoid the stigma of delinquency when theyÂve overdrawn their accounts, while providing a convenient, affordable alternative.
ÂThis strategic partnership is based on JMFAÂs extensive experience implementing more than 1,850 performance-enhancing programs at financial institutions in 49 states and Central America,Â said Marvin Garland, Chief Operating Officer for FCUL Service Group.
ÂJMFAÂs nondiscriminatory overdraft program is now reaching more than 800,000 Florida credit union members,Â Garland noted. ÂThe programs they have put in place so far have exceeded all expectations Â both financially and from a professional service point. Anyone using it for more than six months has enjoyed an increase exceeding 100% in noninterest income from nonsufficient funds (NSF) items.
ÂGranted, we may have initially chosen JMFA for a Âhot buttonÂ type of product, but they were one of the only companies we analyzed that had a full complement of applicable solutions,Â he added. ÂWe knew its impressive stable of products and services would be valuable to Florida credit unions down the road.Â
ÂCredit unions nationwide are facing a rising interest rates situation that squeezes what they can earn between their loans and their savings accounts,Â observed Steve Swanston, JMFAÂs EVP-Sales. ÂMany need to curtail unnecessary overhead and to implement new sources of income that will permit them to prosper and grow.
ÂOur Sales & Service module covers the tools and techniques necessary to maximize a credit unionÂs product and service delivery system for increased business from its existing members,Â Swanston said. ÂWe analyze the market and assess customer needs. We cover call center services, incentive programs, sales and on-site product training, and success monitoring systems.Â
With most applications, Floyd & Associates provides a no-obligation, preliminary analysis and projections of program results. Among its products and services, many available at a discount to FCUL members, are:
Â JMFA Account AcquisitionSM: A program that increases branch traffic and establishes new relationships to provide more cross-selling opportunities and to increase fee income.
Â Non-Interest Income Enhancement: JMFA will review your systems, create new products and implement the right design for maximizing your institutionÂs income.
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.
ÂEvery engagement by JMFA is a diligently planned process customized to each credit union, its organization and its market,Â Garland emphasized. 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 the FCUL executive stated.
ÂCertainly, expanding noninterest income and creating new sources of revenue are important for credit unions to survive and prosper in the face of an erratic economy and fierce competition,Â Garland emphasized. ÂPartnering with JMFA helps keep our members a step ahead. Not only do we enjoy working with the JMFA staff, it is one of the most professional and courteous that we have encountered.Â
For More Information or Interviews:
Steve Swanston, EVP-Sales, John M. Floyd & Associates, Baytown, TX, 800-809-2307, Steve.Swanston@JMFA.com; http://www.JMFA.com
Keith Hopkins, Vice President Business Development, FCUL Service Group, Tallahassee, 800- 342-1266, ext.1170, firstname.lastname@example.org, http://www.FCUL.com
Preston F. Kirk, APR, Kirk Public Relations, Austin, TX, 830-693-4447; email@example.com
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