There's a discussion on another credit union message board that I follow that is asking this same question, so I'll share what I learned there. My organization has personally used both Next Step and SRM for card processing and card network vendor engagements. Both are excellent and have terrific methodologies. Using both of them saved us so much time and money. The ROI on using Next Step was a little bit faster than SRM, but for each engagement we had, each vendor used a different pricing model. I was happy to work with both of them and would gladly do it again.
As part of the discussion, others had mentioned Cornerstone, JMFA and CU Engage. I've only worked with Cornerstone previously so can't comment on the others but there was general satisfaction from credit unions who used those.
Whatever you choose, it's definitely worth it. Esp from a budgeting standpoint, the consultants knowledge of the industry and how much of a discount they can push for is well worth it. Good luck!
Chief Member Operations Officer
United Nations Federal Credit Union
(T)+ 1 347-686-6788
CUEngage does a great job at negotiating credit and debit processing contracts and card brand agreements. I have used them many times at two different credit unions, always with amazing results.
You will save in multiples what it will cost for their services. You simply can't negotiate the deal on your own that they can negotiate on your behalf.
We used Suzanne Savage of Savage Consulting Group. She was a tremendous help during our card RFP process, conversion, and recent renegotiation of our Visa Growth Agreement. You'll save far more than you spend.
Savage Consulting Group 941-552-6613 email@example.com
925.609.3206 - fax
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