The Florida Credit Union League -- 240 credit unions with 4 million members, has partnered with John M. Floyd & Associates of Houston TX to provide a broad rangeof products and services to help credit unions be more efficient, more customer responsive and more competitive in the current, unpredictable economic environment. They include a Sales & Service moduel, Account Acquistion, Non-Interest INcome Enhancement, and Process Improvement.
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 (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 they’ve overdrawn their accounts, while providing a convenient, affordable alternative.
“This strategic partnership is based on JMFA’s extensive experience implementing more than 1,850 performance-enhancing programs at financial institutions in 49 states and Central America,” said Marvin Garland, Chief Operating Officer for FCUL Service Group.
“JMFA’s nondiscriminatory overdraft program is now reaching more than 800,000 Florida credit union members,” Garland noted. “The programs they have put in place so far have exceeded all expectations – 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.
“Granted, we may have initially chosen JMFA for a ‘hot button’ type of product, but they were one of the only companies we analyzed that had a full complement of applicable solutions,” he added. “We knew its impressive stable of products and services would be valuable to Florida credit unions down the road.”
“Credit unions nationwide are facing a rising interest rates situation that squeezes what they can earn between their loans and their savings accounts,” observed Steve Swanston, JMFA’s EVP-Sales. “Many need to curtail unnecessary overhead and to implement new sources of income that will permit them to prosper and grow.
“Our Sales & Service module covers the tools and techniques necessary to maximize a credit union’s product and service delivery system for increased business from its existing members,” Swanston said. “We analyze the market and assess customer needs. We cover call center services, incentive programs, sales and on-site product training, and success monitoring systems.”
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:
• JMFA Account AcquisitionSM: A program that increases branch traffic and establishes new relationships to provide more cross-selling opportunities and to increase fee income.
• Non-Interest Income Enhancement: JMFA will review your systems, create new products and implement the right design for maximizing your institution’s income.
• 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; “Best Practices” implementation; improved systems and procedures; enhanced product design; outsourcing alternatives, and programs for centralized operations and lending, expense control, staffing studies and salary administration.
“Every engagement by JMFA is a diligently planned process customized to each credit union, its organization and its market,” Garland emphasized. “It begins with consultation, a strategic preliminary analysis and a detailed discussion of opportunities.
“Following 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,” the FCUL executive stated.
“Certainly, 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,” Garland emphasized. “Partnering 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.”
For More Information or Interviews:
Steve Swanston, EVP-Sales, John M. Floyd & Associates, Baytown, TX, 800-809-2307, e-mail protected from spam bots; www.JMFA.com
Keith Hopkins, Vice President Business Development, FCUL Service Group, Tallahassee, 800- 342-1266, ext.1170, e-mail protected from spam bots, www.FCUL.com
Preston F. Kirk, APR, Kirk Public Relations, Austin, TX, 830-693-4447; e-mail protected from spam bots
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Source : http://www.prweb.com/releases/2005/1/prweb199754.htm