How 11 Branches at Meriwest Credit Union Consolidated Vendors and Realized Cost Savings with Venminder
Mary Ellen Snider knows first-hand what it means to be the ‘go-to’ contact for vendor management at her financial institution, Meriwest Credit Union. Competing priorities, lack of time and personnel, and a file cabinet full of contracts across 11 branches made this responsibility overwhelming. After evaluating other solutions, she found Venminder and quickly gained complete confidence she’d found the perfect solution. Meriwest agreed with the decision to use Venminder software and outsourced due diligence services.
Steamlined Vendor Risk Management Exceeds Third Party Risk Requirements at First Tech Federal Credit Union
With over $8.6 billion in assets, First Tech Federal Credit Union is one of the ten largest credit unions in the United States, serving more than 425,000 members nationwide. Its members work for some of the most advanced technology companies in the world, including HP, Microsoft, Intel, Amazon, Intuit and Google, and they demand that the credit union supply an effortless banking experience
A Changing Regulatory Environment Prompts FNB Bank to Adopt a Multi-Disciplined Approach to Vendor Management
It became clear that regulators were paying serious attention to vendor risk management during FNB Bank’s 2013 examination, says Wes Spencer, the bank’s Chief Information Officer. Although the community bank, headquartered in Mayfield, Kentucky, had always received high marks for its vendor management program, management knew it needed to do even more.
A Collaborative Approach to Vendor Management Lessens Risk, Improves Efficiency for National Bank of Commerce
With more than 700 vendors to manage, National Bank of Commerce, a $550 million asset bank with both commercial and retail line of businesses in northeastern Minnesota and northwestern Wisconsin, knew it needed to improve vendor management