Full Service Solution
CUVM (Credit Union Vendor Management), created by credit unions for credit unions, provides vendor management services for credit unions. Credit unions often share many common vendor partners. Our solution provides cloud-based technology to efficiently collect and distribute due diligence documentation, and manage vendor relationships.
We provide a dedicated analyst and a team of support staff to ensure the success of your Vendor Management program.
- Free Sample Board Policy – We provide you with a sample Board Policy which helps you conform to the NCUA guidelines.
- Risk Assessment Assistance – A Fully-Compliant Risk Assessment Wizard is available in the software to assist in establishing consistent rankings for your vendors. Industry norm standards may also be provided.
- Limited Reviews – A limited review is provided for specific vendors that address the 7 levels of risk outlined by NCUA.
- Vendor Document Repository – Vendor documents are stored and available in a shared location unless there is a Nondisclosure agreement in place..
- CU Document Library – All documents related to the vendor relationship may be scanned and uploaded into your document library for a vendor.
- Archived Documents – We will keep a running history of all contracts and other documents are will archive them on our system.
- Permission based access to the CUVM Contract Management System – Different security levels allow for access to different types of contracts.
- Disaster Recovery Tool – Having all the contracts, vendor documents and important documents regarding the vendor relationship will be another tool in your disaster recovery plan.
- Cloud-Based available 24/7
- Unlimited CU Contacts
- Automated e-Mails and Notifications
- Risk Rating System
- Contract and Document Storage
- Guest access for Examiners
- Report Package
Benefits of Outsourcing Vendor Due Diligence:
- Helps Credit Union streamline vendor management process
- Saves time and money
- Centralized location to simplify storage and retrieval of contracts and due diligence data
- NCUA compliant