Increase savings and income potential through the power of negotiation

first_imgConcerns regarding the bottom line, on-going regulatory expectations, low interest rates, poor loan quality and pressure on net interest margin – in addition to economic uncertainty both domestic and international – are most likely affecting your credit union’s ability to reach or exceed your performance goals. But on a positive note, by keeping a close eye on your product and service delivery systems – as well as the costs and terms of your service contracts – you can create income and savings opportunities that will better-position your success in the New Year.Carefully target your products and services to match member needsAs consumers expect more convenience and accessibility when conducting their financial transactions, it is incumbent to provide a range of mobile and online options in order to remain competitive. As a result, increased spending on technology is expected to continue for such items as mobile applications, online banking, payment software and security – in addition to branch technology to support more efficient face-to-face and virtual service options.As this paradigm shift in service delivery becomes the industry norm, I have worked with many clients to help ensure they are able to make the very best, informed decisions when it comes to choosing a product vendor or renewing a legacy service contract. Simply signing the bottom line without a careful review of the services provided – or the contract terms – can result in:missed opportunities to gain a competitive edge in the market;loss of potential savings, increased income and improved contract terms; as well asservices that may not meet your members’ needs and expectations.Is there gold hiding in your contracts?For many institutions, signing a new service contract – or renewing an existing one – often becomes a matter of habit. If you are satisfied with the level of service from a vendor, you might not think of the possible benefits of having your contracts reviewed and possibly re-negotiated by a professional. From experience, many clients we work with are only familiar with the pricing they already have in place. And, they are often unfamiliar with how pricing for services has changed over time, as well as the possibility of any realistic cost-savings. This can put a credit union at a major disadvantage when dealing with a service provider agreement.What’s more, if you simply let your contracts auto-renew every time, it is possible that your service needs may have changed without your even getting the chance to explore alternative or lower-priced options.For example, take a look at some of the most popular consumer financial services available today: mobile banking and Internet banking/bill pay products. A professional review of your current contracts for these services can uncover substantial savings and possible incentive income opportunities, as well as potential improvements in the contract terms.For one client, overwhelmed with normal day-to-day operations, the savings opportunity was significant when it came to negotiating a vital core processing contract. By understanding their concerns and needs, we saved them valuable time that they could be using for other critical tasks and much more. Ultimately – after securing improved rates and terms – the end result was a savings of approximately $72,000 per year, over a seven-year period.Just think what you could do with additional incomeGiven the number of service contracts held by the typical credit union, the potential for cost-savings and monetary incentives is tremendous for your competitive position. Savings from a contract review offers a solution for institutions to invest in updating technology or enhance your service-offerings to members. Or, it is possible that the monetary rewards may provide the funds necessary to expand your business or open new branches.Get the most value from your time and your service contractsIf you don’t have in-house contract expertise, you are likely spending valuable time keeping your service contracts current while you could be focused on more profitable member service activities. A professional audit of your contracts will help to uncover areas where improvements can be made. And depending on your current agreements, the findings can lead to savings opportunities, improved terms, service upgrades, and increased revenue potential that can offset some of the economic and regulatory challenges you may be facing.So don’t delay. Putting a professional review of your service contracts on the back burner can result in the loss of monetary rewards that could help you get the New Year off to a more positive start – in terms of your credit union’s bottom line, as well as improved member service. 12SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Kelly Flynn Kelly has over 15 years of sales and management experience helping financial institutions of all sizes. She leads a team whose charter is to optimize the value of every contract … Web: www.JMFA.com Detailslast_img read more

University Faculty Union members left in limbo

first_imgIn February 2016, a vote by the faculty of the Dornsife College of Letters, Arts and Sciences resulted in a loss for the USC Faculty Union, a group of non-tenure-track faculty working to guarantee higher wages and benefits, which they hope to achieve by creating a labor union. More than a year later, faculty members involved are left questioning the current state of the union.After the vote, the USC Faculty Union appealed to the National Labor Relations Board, claiming that Provost Michael Quick’s emails leading up to the vote discouraged faculty members from supporting unionization. The NLRB ruled in favor of the Faculty Union, invalidating the results of the vote and scheduling a redo.As of September, Dornsife faculty members had filed charges against USC with the NLRB, accusing the University of unfair labor practices. They requested a delay in the upcoming unionization vote. A few months after the NLRB said there would be a new vote, its national offices reversed the decision. Professors are divided over the decision to sue the University. Steve Posner, assistant professor of writing is not part of the Faculty Union, but he said he follows it closely.“I am for the union, but I do not think Michael Quick did anything improper,” Posner said. “He has stated the University’s position and has sent emails which were informative. There were no threats and there was no intimidation.” The Service Employees International Union was helping the Faculty Union organize. Now, the SEIU is focusing on graduate assistants who are trying to unionize.“We’re pretty much in limbo,” said professor Sandra Marie Ross, a member of the Faculty Union.Posner said that the approach to unionization was flawed.“I think unionization is a good idea, but this particular union made a mistake,” Posner said. “They didn’t take the time to learn about the campus culture and the specific concerns of professors, so they weren’t able to address the concerns.”In recent months, the Faculty Union has refrained from continuing to fight the decision.“I would imagine the union figures this is a fight not worth pursuing,” Posner said. “I think eventually a union will come around again, and the University has an opportunity to change its policies to make a union unnecessary. So far, I don’t see that happening.”Ross said there is increasing dominance of non-tenure-track faculty who have little job security. Yet, faculty members are left in the dark about hiring and promotion decisions.“What we want is transparency,” Ross said. “We want to know why some non-tenure-track faculty get promoted and others don’t. We want collective bargaining, and just more accountability. We are the future of the University.”last_img read more

Wellington Police Notes: Monday, Jan. 4, 2016

first_imgWellington Police notes for Monday, January 4, 2016 •12:29 a.m. Officers investigated violation of protection order and criminal trespass in the 200 block S. F, Wellington by known suspect.•6:08 a.m. Officers investigated domestic battery in the 2000 block N. H, Wellington by known suspect.•6:48 a.m. Jessie D. French, 38, Wellington was arrested and charged with domestic battery.•7:15 a.m. Officers took a report of suspicious activity in the 800 block N. Woodlawn, Wellington.•8 a.m. Officers took a report of suspicious activity in the 600 block High Dr, Wellington.•9:20 a.m. Officers took a report of found keys in the 200 block S. C, Wellington.•12:26 p.m. Officers took a report of suspicious activity in the 900 block N. Blaine, Wellington.•Allan Yura, 64, Wellington was served a summons to appear for theft.•Jesse Henderson, 62, Wellington was served a Summons to Appear for battery and criminaldamage to property.•Erick D. Francis, 27, Wellington was served a summons to appear for dog bite violation.last_img read more

January Jones won’t let NBA bubble stop her from courting Clippers star Kawhi Leonard

first_imgI imagine the call would start with a greeting from Jones before Leonard immediately cut her off like this…Hollerin at January Jones pic.twitter.com/RWR32BXUif— Bunkie Perkins (@BunkiePerkins) August 7, 2020Oh, and that other little problem: Leonard is taken. He shares two children with longtime partner Kishele Shipley, and while Leonard is never one to pass along details about his personal life, there is no indication the relationship will end anytime soon. So yeah, Jones probably should have done a little research before throwing that halfcourt heave. She did tag the Clippers in one of her posts, so maybe they can help her find an eligible bachelor once the season is over. January Jones shooting her shot. pic.twitter.com/PavySPfsuC— Daniel Ralston (@danielralston) August 7, 2020MORE: Clippers’ Lou Williams addresses strip club visitYou have to respect the boldness, especially considering she has one million followers on the social media platform. Unfortunately for Jones, there are a few obstacles standing between her and Leonard.The two-time NBA Finals MVP is inside the NBA “bubble” with the rest of his teammates preparing for a deep playoff run. Leonard is completely focused on winning another title, so potential phone chats would result in time away from the court and film room. That doesn’t seem like something Leonard would be willing to do. As the great philosopher Michael Scott once said, “You miss 100 percent of the shots you don’t take.” Well, January Jones is pulling up from well beyond the 3-point line.The “Mad Men” actress must have been impressed with Kawhi Leonard’s 29-point performance in the Clippers’ win over the Mavericks on Thursday night. Jones shared two video clips from Leonard’s postgame interview on Instagram with the captions “future boyfriend??” and “[call] me Kawhi.” (Don’t forget those heart eyes emojis.)last_img read more