Independent financial services advisory firm SRM has established a strategic partnership with the Cooperative Credit Union Association (CCUA), a leading regional trade organisation representing nearly 200 credit unions across Massachusetts, New Hampshire, Delaware, and Rhode Island. This collaboration will provide CCUA’s member credit unions with preferred access to SRM’s comprehensive advisory portfolio, covering sourcing, payments, corporate strategy, and technology consulting.
SRM, headquartered in Memphis, Tennessee, and known for its tailored advisory services to credit unions and community banks since 1992, brings robust expertise to the partnership. Their advisory offerings include sourcing advisory services such as vendor selection, contract negotiations, and benchmarking; payments advisory covering commercial, consumer, and instant payments, fraud prevention, product development, and credit/debit card optimisation; corporate advisory encompassing strategic planning, digital strategy, mergers and acquisitions, AI enablement, compliance, risk management, and analytics; as well as technology advisory that supports core processing, digital banking strategy, migration, integration, and expert staff augmentation.
The partnership aims to empower CCUA member credit unions to improve contract negotiations, innovate in payments, and accelerate technology transformation, thereby enhancing member experience and financial performance. CCUA Executive Vice President and Chief Operating Officer Melissa Pomeroy emphasised that SRM’s advisory capabilities would reinforce credit unions’ ability to deliver exceptional service and operational excellence.
SRM’s experience extends beyond this collaboration. Their strategic advisory solutions have been selected by over 700 financial institutions nationwide, unlocking billions of dollars in value through optimised payments, digital banking, core processing, and operational efficiencies. Their Account Boost programmes, designed to support growth through member onboarding, cross-selling, and card optimisation, have proven instrumental in helping credit unions retain and attract deposits—a critical challenge in the current financial landscape.
In addition to this partnership, SRM has demonstrated thought leadership through events such as their inaugural Payments University, held in September 2023 in Dallas, Texas. This event convened payments professionals from across banking and credit union sectors to discuss innovations, regulatory changes, and technology trends. Moreover, SRM’s ongoing commitment to supporting credit union growth is reflected in its partnership with the Filene Research Institute. Together, they are sponsoring the new Center of Excellence focused on attracting and retaining Millennials and Gen Z members, an initiative aimed at driving next-generation growth.
The strategic alliance with the CCUA benefits from SRM’s deep regional expertise, with more than three decades of advising New England and Mid-Atlantic credit unions. In recent years, SRM expanded its capabilities through the acquisition of Sievewright & Associates, a Boston-based consultancy known for strategic planning, technology strategy, and governance services tailored to credit unions. This acquisition supplements SRM’s advisory strength with specialised programmes such as the DIGITALMAP initiative.
SRM’s broad suite of services, coupled with its longstanding track record of delivering value and innovation, positions the firm as a vital partner to credit unions seeking to navigate an increasingly complex financial services environment. With the Cooperative Credit Union Association representing institutions managing over $75 billion in assets and serving more than five million members, this partnership could significantly influence the credit union sector’s capacity for growth, technological adoption, and member engagement in the Northeast.
As the industry continues evolving, partnerships like this underscore the importance of expert advisory support tailored to the unique challenges and opportunities faced by credit unions. SRM and CCUA’s collaboration is set to be a catalyst for strategic advancement, increased operational efficiency, and enhanced member service across the region.
Source: Noah Wire Services
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