MILWAUKEE, Wis.– InterLutions, a CUSO specializing in expense reduction and revenue enhancement, reported it has been able to bring its clients significant cost savings. Since 2017, the CUSO said it has helped 30 credit unions save a combined $10 million through enhanced contract negotiation as part of a program called CU-Save. That program 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.
InterLutions said 90% of its clients realized they were paying their vendors too much, and given the high probability of success it offers an initial cost-savings assessment at no cost or obligation.
“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.”
Payments Analytics
InterLutions said it utilizes a vast archive of invoice data and payments analytics, along with a proprietary software database of industry benchmarks, that its contract negotiation team uses 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.”
InterLutions reported many of its clients have seen six- and even seven-figure savings.