7 questions for smart outsourcing

by: Mike Plante

Any outsourced arrangement needs to offer benefits for the credit union – whether this be cost, knowledge or another factor – while not negatively impacting or relinquishing control of direct member services. This decision process is very different from many other industries in which the primary concern is almost always “how much money will outsourcing save?” As a result of this unique standpoint, credit unions need to ensure they are selecting the right outsourcing processes and partners.

Filene Research Institute recently published a brief that explores outsourcing decision-making in the credit union industry. The report concludes that by asking the right questions when undertaking any outsourcing process – questions not asked of potential providers, but asked of themselves – credit unions can effectively navigate outsourcing efforts.

Question #1: What functions is my credit union considering outsourcing and why?

Question #2: Does it make sense to outsource this function?

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