Credit Union to Recover $1.5 Million in Additional Cash Flow

SECU is Maryland’s largest credit union, with more than 235,000 members and $3.0 billion in assets. Although they have strong internal procurement processes in place, they looked to ERA to extend their efforts to search for hidden cash flow from their operating budget.

ERA immediately reviewed all the SECU expense categories using their knowledge base and quickly exposed five categories where savings could be uncovered---ATM maintenance, cash delivery and courier service, copiers & printers, print & promotion, and payroll services.

ERA assigned specialists in each of these suppliers’ industries to evaluate SECU’s needs, processes and systems, and existing supplier arrangements. ERA’s unique insights allowed them to restructure and renegotiate SECU’s supplier relationships to generate savings, while implementing a number of process and policy enhancements to increase SECU’s operating efficiency in these areas.

ERA secured savings, from both existing and new suppliers, ranging from 10%-40%, will result in approximately $1.5 million in additional cash flow to SECU over the next three years.

ERA continues to support SECU with detailed monitoring of each of the new supplier arrangements to ensure these savings continue well into the future and that the quality of service continues to improve. 

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