Leading Variables CUs Should Consider When Determining IT Budgets and Selecting Tech Partners

By W.B. King

When it comes to shaping IT budgets, there are normally two driving factors: available monies and demand for services—whether from members or employees. For example, a Meriplex report, IT Budget Planning 2025: How to Plan & Optimize Your IT Budget, stated that before allocating funds, an organization must first establish specific goals for its IT budget. This includes determining IT objectives over the coming year so that money spent is aligned with business priorities.

The Houston-based IT and cybersecurity firm bills itself as driving business growth for its clients through innovative, secure technology solutions.

“In 2025, common IT budgeting goals include optimizing cloud costs, strengthening cybersecurity posture, and modernizing legacy systems for digital transformation,” the report stated. “Set targets that are measurable—such as reducing cloud waste by X% or achieving a certain uptime/security level—so you can justify the budget spend and track success.”

When looking to the future, Meriplex also offered advice on planning. “Use historical data and industry benchmarks where possible. Engage with business leadership about their three-to-five-year strategy and consider how IT will support it. This might mean budgeting for scalable solutions that can grow with the company or investing in architecture that will accommodate future technologies,” the report continued. “Organizations that make considerations for the future give themselves a better chance of making sound budgeting decisions that positively impact the business for years to come. In short: budget for today, but plan for tomorrow.”

Seven Tech Tips for IT Success

Once an IT budget is set, executives must determine how allocated monies will serve an agreed upon strategy. To assist in this all-important endeavor, Wolters Kluwer offered financial institutions, including credit unions, guidance.

“In today’s fast-paced and highly competitive financial industry, community banks and credit unions need to leverage technology to stay ahead of the curve and meet the evolving needs of their customers,” the company noted in a 2025 report, Top Seven Things Community Banks and Credit Unions Should Look for in a Technology Partner. Based in the Netherlands, with multiple US offices, the company provides software tools and digital workflow solutions.

To help achieve IT objectives, the Wolters Kluwer report authors shared the following seven variables for achieving IT planning success:

Scalability: As a community bank or credit union grows, its technology needs will also increase. It is crucial to choose a technology partner that can scale their solutions to accommodate the institution’s growth. This will ensure that the institution does not outgrow its technology partner and must switch to a new provider in the future.

Security: With the increasing number of cyber threats and data breaches, security is a top priority for community banks and credit unions. It is essential to choose a technology partner that has robust security measures in place to protect sensitive customer data and prevent unauthorized access to the institution’s systems.

Compliance: The financial industry is heavily regulated, and community banks and credit unions must comply with a myriad of laws and regulations. Be sure to choose a technology partner that has a strong understanding of regulatory requirements and ensures that their solutions are compliant with all laws and regulations.

Configuration: Every financial institution has unique needs and requirements. A technology partner should be able to tailor their solutions to meet the specific needs of the institution while staying within proven guardrails to ensure compliance and security.

Integration: Community banks and credit unions often have legacy systems in place that need to be integrated with new technology solutions. Choose a technology partner that can seamlessly integrate their technology with the institution’s existing systems and processes to ensure a smooth transition and maximize efficiency.

Support: Implementing new technology solutions can be a complex and challenging process. A technology partner should provide ongoing support and training to help the institution make the most of their technology solutions and address any issues that may arise.

Reputation: When choosing a technology partner, it is important to consider their reputation in the industry. A partner with a solid track record of success working with other financial institutions and regulators is more likely to provide reliable and high-quality solutions.

“Community banks and credit unions should carefully consider these seven factors when choosing a technology partner,” the report noted. “By selecting a partner that offers scalability, security, compliance, configuration, integration, support, and has a good reputation, community banks and credit unions can ensure that they have the right technology solutions in place to meet the needs of their customers and stay competitive in the industry.”