Solution Selection Process

The selection and adoption of strategic partnerships is crucial to the success of credit unions. Before offering a product or service to credit unions, LEVERAGE conducts a well-defined, thorough due diligence process to ensure that the business solutions we select meet the most stringent requirements. Our process includes the following:

• Feasibility Review – Through a combination of market research, industry analysis, and potential user intereviews, we determine if a potential product or service is necessary and relevant to the market we serve.
• Quality Evaluation – With a thorough examination of the provider’s business model, track record, and reputation in the industry, we determine if the potential partner will produce consistent results for our credit unions.
• Due Diligence & Risk Assessment – A thorough due diligence process is conducted on all potential partners. This assessment includes site visits, background checks on the principles, extensive reference checking with current customers, financial statement review, business continuity and security vefifcations, and exit strategy planning.
• Pilot Stage – Before launching a new business solution, we first pilot the business solution with selected credit unions, thoroughly analyze the results, and make adjustments to ensure the product is meeting the needs of the credit unions.

The quality and effectiveness of business solutions offered by LEVERAGE doesn’t stop once a service is launched. We continue to monitor the results achieved with use of the product or service and also continue to monitor the safety and soundness of the partner providing the solution.