BAYTOWN, Texas, Feb. 3, 2009 (GLOBE NEWSWIRE) -- John M. Floyd & Associates (JMFA) has signed an agreement with the Louisiana Credit Union League (LCUL) to be the association's preferred supplier of overdraft privilege services.
JMFA OVERDRAFT PRIVILEGE(r) is an automated and 100 percent compliant program that enables credit unions to increase their non-interest income by 50 to 300 percent and reduces the time credit union staff spends on handling and processing NSF items. This allows them to devote more time enhancing member service initiatives. In addition, the program provides credit union members with a safety net that covers their transactions in the event they make a mistake on their account or face an unexpected financial emergency.
"In today's challenging economic times, credit unions are looking for ways to remain profitable and maintain high levels of member services," said JMFA CEO John M. Floyd. "At the same time, their members are looking for services that provide them with financial stability."
Floyd explained that JMFA OVERDRAFT PRIVILEGE(r) is a win-win solution; helping credit unions improve their bottom line while providing their members with a cost-effective service that helps them avoid the embarrassment and added expense of paying merchant penalties for NSF checks.
According to Vince Liberto, senior vice president of marketing and sales for LCUL, the League selected JMFA based on the company's reputation of developing and implementing programs that enhance the performance and profitability of financial institutions. "When we were considering a partner to provide overdraft program services to our members, we were impressed with the relationship JMFA had with CUNA and the support it provides to the credit union community," said Liberto.
"Based on these recommendations and the company's record of success, we believe JMFA OVERDRAFT PRIVILEGE(r) will be a great boost to Louisiana credit unions and a valuable service to their members."
Contract extensions for JMFA OVERDRAFT PRIVILEGE(r) have also been signed with the Indiana Credit Union League (ICUL) Services Corporation (Servicecorp) and the FCUL Service Group. Representatives of these associations also credit JMFA's expertise in developing programs that enhance the performance and profitability of financial institutions, as well as their understanding of the credit union philosophy for their renewed business partnerships.
About JMFA
JMFA is recognized across the financial services industry for training, account acquisition, executive placement, fraud protection solutions and earnings enhancement programs, as well as product, service, pricing and technology improvement consulting. As a direct result of its programs, JMFA has helped thousands of clients dramatically improve their performance and their bottom line. To learn more, please visit www.JMFA.com or call (800) 809-2307.
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