M&A Solutions/Contract Negotiations Case Study
TruStone Financial
Executive Overview
Firefly and TruStone, two credit unions with branches located throughout Minnesota and Wisconsin, merged in 2021 to form a $4 billion combined credit union with a collective 23 branches and 511 employees.
Challenges
• Disparate tech stacks• Exorbitant termination penalties
• Aggregate tech spend needing reduction
Solutions
• Engage Cornerstone for contract roadmap strategy and six major technology negotiations in parallel
Results Achieved
Achieved
Achieved 33% pre-merger technology savings
Completed
Completed project within 100 days
Negotiated
Negotiated 6 major technology contracts