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FCUL Service Group announces ROI with three partners
TALLAHASSEE, Fla. (2/17/09)--FCUL Service Group, a subsidiary of the Florida Credit Union League, announced that several of its partnerships have resulted in big savings for the credit unions it serves. Three credit unions in the state saved up to 28% through collaborative buying of computer equipment with Ventelligence, a vendor management solution offered by FCUL Service Group. Community lst CU of Florida, Sun State FCU, and Jackson County Teachers CU joined forces with Ventelligence to create a bidding war for the business of their computer equipment needs. Savings ranged from 7.6% to 28.1%. The collaborative buying process was facilitated in an online, live auction environment and offered an immediate 5% savings to the largest credit union's paper bid from their preferred supplier. In a second partnership, more than 15 credit unions participated in the Sprint cellular program in 2008, which generated more than $117,000 in incentives. At a time when non-interest income plays a pivotal role in financial soundness, Florida credit unions enrolled in the program experienced a positive return on investments (ROI). FCUL Service Group said a key benefit to the Sprint program is the monetary marketing incentive credit unions receive in return for advertising the services to their members. The credit unions also get free marketing materials. A third partnership in 2008 saved more than 1,500 credit unions across the U.S. more than half a million dollars on the Office Depot Business Services Division (GSD) collaborative purchasing program, said FCUL Service Group. The program is free to participate, and credit unions can order four ways. Credit unions work together to maximize reduced-spending opportunities.


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