LA Financial CU Signs with Maple Street

maple street logo

LA Financial CU was in search of a modernized solution to manage its vendors, and the Los Angeles-based credit union wanted more than a product that simply inherited information, but enhanced its vendor management program for its team members to utilize.

LA Financial CU selected Maple Street, Inc. to provide its vendor management program with the Vendor Advantage System® – the only system that goes beyond the vendor management paper chase with a proven process to deliver a complete vendor management program, incorporate supply chain management principles, and manage vendor lifecycles.

The Vendor Advantage System® delivers three results: reduced expenses, improved vendor performance and managed risk.

LA Financial CU was drawn to Maple Street and its Vendor Advantage System® because the credit union needed a company that could not only handle Vendor Management solutions, but also provide a system tailored to reduce its organization’s monetary cost.

Mike Crofts, founder and president of Maple Street, said in this challenging economic environment, it’s more important than ever to have a complete vendor management program that reduces vendor expense and improves vendor performance.

“Vendor management reduces vendor expense. If your vendor management program doesn’t significantly reduce vendor expense, you’re doing it wrong. LA Financial took our module into consideration, and we’re extremely proud it has joined the Maple Street family,” Crofts said. “We provided the credit union two guarantees with the Vendor Advantage System®: you’ll save more than you spend and you’ll pass your exam.”

Crofts continued, “We developed the system well before the pandemic struck, but now, more than ever, it’s important to do vendor relationship management properly. This is a time when clients are very dependent on vendor performance to meet their financial goals.’’

LA Financial CU is a member of the California and Nevada Credit Union Leagues and continues Maple Street’s expansion into the Golden State. Maple Street delivers the Vendor Advantage System® to more than 200 credit unions and community banks across the country. Maple Street, which is on a mission to empower credit unions and community banks to thrive, has helped its clients save more than $132 million to date.

LA Financial Credit Union serves the people of LA County and Lake Havasu City, AZ, by providing financial services, educational resources, and supporting its communities through charitable giving and volunteerism. Locally owned by its members, LA Financial CU helps people make the most of their money.

To learn more about Maple Street, visit www.maplestreetinc.com.