You know the saying, “What you don’t know can’t hurt you?” This misguided sentiment often leads credit unions and community banks into DIY negotiations in which they believe they are well prepared to negotiate with vendors. In reality, however, the institutions are setting themselves up to be robbed blind and get poor vendor performance for […]
Belco Community Credit Union: How a regulatory assignment grew into a long-lasting partnership with Maple Street
Belco Community Credit Union traces its roots back to 1939, when 25 employees of Bell Telephone Company each contributed $5 to start Belco Federal Credit Union in Lancaster, Pennsylvania. By 1941, Belco had approximately 400 members. Twenty years later, that number grew to 1,600 and, in 1994, the credit union reached $100 million in assets. […]
What is inherent risk and how do you assign levels to risk to manage it for your institution? With Maple Street’s approach, you’ll find assessing and ranking risk is less complicated than you may think.
To be successful, vendor management programs need to deliver reduced expenses, improved vendor performance and managed risk.
Make the due diligence process easier with Maple Street’s Street Smart Vendor Review Kits.
Learn the three steps to getting the performance you want by using a vendor management scorecard.
Your vendors are more essential for your success today than ever before. Vetting and onboarding the right vendor can be a complicated and daunting task. Here are some tips that can help you better understand your vendors.
Maple Street has negotiated vendor contracts for our credit union and community bank clients for 20 years and, for the last several, we’ve been encouraging a strategy we call “Relationship Contracting.”
Just because you have the latest, most expensive software, doesn’t mean you’ll be able to instantaneously get the results you want. The truth is software ≠ service.
As 2023 begins, credit unions and community banks are facing multiple challenges, including the looming threat of recession, interest rate uncertainty, cybersecurity concerns, and new supervisory priorities for your exam. Many savvy institutions are turning to experts that have the people, tools, and technologies to help with compliance and beyond.