3 Routes to Create Lift in Payments Vendor Agreements

About the Podcast

Credit union leaders nationwide have been tallying up costs, making revenue plans, and setting budgets amidst a pandemic and recent election. While you’re gearing up to right-size staff and shrinking liabilities in 2021, take advantage of these three methods to find additional lift in your credit union's payments vendor contracts.

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    Strategic Resource Management
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    For more on this topic, check out 5 COVID-19 Savings and Revenue Strategies.

    Key Takeaways:

    • [01:43] Interchange is a big component of a credit union’s overall income. There are means to optimize that revenue. 
    • [09:51] Be prepared for credit. The credit unions have credit card portfolios and they need to have those positioned properly. Credit is a big revenue opportunity. 
    • [10:31] Credit is an opportunity that everybody needs to be looking at.  

    Presented By

    Patrick Goodwin
    Patrick Goodwin

    President | SRM

    Patrick Goodwin is the president of SRM (Strategic Resource Management), overseeing the implementation of bottom line improvement strategies for its clients. Goodwin has 18 years of contract negotiation experience spanning two dozen distinct banking specialties. His acquired knowledge of credit and debit card services, M&A contracts, and beyond remains vital to SRM’s continued diversification and success.  
    Prior to joining SRM, Goodwin was responsible for the development of financial management tools in the healthcare industry to measure cost and performance as well as for the development of standardized training and operations processes.
     

    Strategic Resource Management
    Strategic Resource Management (SRM) is the NAFCU Services Preferred Partner for vendor cost benchmarking and contract negotiation services.

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