FOND DU LAC, Wis. – This article was originally published on CUtoday.info.
With credit unions continuing to report mergers on an almost daily basis, Info-Pro Lender Services has released a new e-book, “Overcoming Challenges With Internal Processes During a Merger or Acquisition.”
“Mergers and acquisitions of today aren’t always because of distress or the inability of a financial institution to stand on its own two feet,” the e-book notes. In fact, many institutions are merging with one another in order to become a major player in the market, whereas others enter into an acquisition for the greater good of the company. Regardless of the reason behind a merger or an acquisition, there is no question that it will have an impact on a given institution’s internal processes.”
The e-book, which is free, examines those internal processes in more detail, including escrow processing. It also looks into other challenges that might arise and how an outside vendor may be able to help ease the transition.
Among the changes that must be dealt with:
- Changes or temporary disruption to operational tasks
- Increased revenue for the acquiring institution
- An institution may have to take on a whole new portfolio or business
- An institution may have to start all over again with a new member
“Whether you are doing the acquiring or being acquired, it is of the utmost importance that you understand how your internal processes will be affected by this transition,” the e-book states. “Mergers and acquisitions happen for many different reasons and to financial institutions of all different sizes. In order to ensure both you and your employees are prepared for what is to come, it is recommended that you take a step back and assess what your greatest needs are and how an outside vendor may be able to help.”Read the full e-book here.