Strategic Link Question of the Week

“With two years remaining on our contract with our current card processing system, we are looking to honor our commitment to due diligence by looking into other processing systems, but we are concerned about the time and money it will take to compare systems. We want to make sure we are our credit and debit card program is as valuable as possible to our members and to our credit union. Do you have any suggestions for where we should start or who we should contact?”

A robust debit and credit card program is one of the most effective ways for credit unions to create value for members, build loyalty, cross-sell products and generate revenue.

Card Services for Credit Unions (CSCU) is Strategic Link’s preferred partner for processing, and they have already worked with several credit unions in the Northwest to do just what you’re describing—to provide a no-obligation, side-by side comparison for processing, even when you still have time remaining in your existing agreement.

Due diligence is very important with today’s economy and most of our credit unions have been with the same vendor for quite some time. The market has changed and there are more options available to you today, likely at a higher value with much lower cost than when you initially signed with your current vendor.

Created and owned by credit unions, CSCU is the credit union movement’s advocate, partner and leader in total payment solutions. In addition to offering leading payment products, they support credit unions with free portfolio consultations, free marketing kits, inserts and promotions, and free training and education on industry trends and hot topics, and they also supply sponsorship into Visa and MasterCard.

If you have fewer than 24 months remaining with your current provider for credit and/or debit card processing, the simplest way to conduct due diligence is through CSCU’s no-obligation, side-by-side comparison. It requires just a few minutes of your time, and credit unions have saved as much as 10 and 50 percent on processing costs—all with no risk, no cost and a minimal staff time commitment.

If you are interested in working with CSCU to conduct a comparison, Strategic Link will help you initiate the process and provide guidance from beginning to end.

Visit CSCU’s website to learn more.

 

Strategic Link is the NWCUA’s wholly-owned service corporation, using the power of aggregation to provide the Association’s member credit unions with exclusive high-quality, competitively-priced products and discounted services. Is your credit union planning to upgrade its ATM services? Are you looking for new sources of non-interest income or a new card processing system? Whatever your needs, contact Director of Strategic Partnerships Craig Reed today to find out how Strategic Link can help your credit union save money while meeting its goals in 2013 and beyond: 206.340.4789, creed@nwcua.org.

Posted in Advocacy News.