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CUSO Leverages Invoice Data to Decrease Credit Union Expenses

MILWAUKEE, WI – November 18, 2020 – InterLutions, a CUSO specializing in expense reduction and revenue enhancement, is leveraging its vast resources in pricing and service data to bring clients significant cost savings. Since 2017, the CUSO has helped 30 credit unions save a combined $10 million through enhanced contract negotiation.

CU-Save logo

The program, called CU-Save, reviews third-party vendor contracts to realign pricing, increase incentives and income, and remove restrictive service requirements leading to a much-improved and mutually beneficial agreement.

“We’re thrilled to help so many credit unions save so much,” said Jesse Kohl, President of InterLutions. “And best of all, most of our clients were able to retain their preferred service partner with zero impact to service levels and no operational disruption.”

The CUSO notes that 90% of their clients realized they were paying their vendors too much. Given the high probability of success, the CUSO offers an initial cost-savings assessment at no cost or obligation.

Utilizing a vast archive of invoice data and payments analytics, along with a proprietary software database of industry benchmarks, the CUSO and its contract negotiation team leverages the power of data to help credit unions significantly lower their operational expenses.  

“Our subject matter experts can be counted on to analyze a credit union’s most expensive vendor agreements and cut out the fat that is built into so many contracts,” said Kohl. “We welcome any credit union looking for planning assistance to drive down costs and build new revenue streams.”

Feedback from clients can be found on the CUSO’s website and below is a snapshot from credit union CEOs that have experienced six- or seven-figure savings from the CU-Save program.

  • "CU Save’s expertise helped us negotiate incentives that were not presented originally."
    - Colleen Woggon, Oakdale Credit Union
     
  • "The final vendor proposals that we considered through CU-Save’s contract negotiating process was clearly more lucrative than we could have negotiated ourselves."
    - Shay Santos, Dane County Credit Union
     
  • "Working with CU-Save on two major contracts has been rewarding and simple."
    - Cheryl Sio, MembersAlliance Credit Union
     
  • "Their track record for following through with the plan, both on time and on the money, is unquestionable."
    - Kurt Johnson, Educators Credit Union