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FAQs

What software or computer requirements are needed?
None. The cloud-based, secured software is accessible if you have an Internet connection.

Can you obtain our vendor contract from the vendor?
Yes. If you don’t have a copy of it, we will request it from the vendor for you.

What do I do if we have a verbal agreement with the vendor?
Don’t worry, our software has a way to handle those agreements as well.

How does CUVM help during exams or audits?
Your dedicated analyst is there to assist you with those questions and will even walk through the software with your examiner for you.

Do you have a sample vendor management policy?
Yes, we will help you create or modify a policy for you and your credit union.

I don’t know how to risk rate my vendors. What do I do?
We have a risk rating system built into the software. Plus, your dedicated analyst can assist you with the rating of your vendors.

How is CUVM priced?
Our pricing system is based on your asset size. There is a one-time set up fee and then a monthly fee.

What is a limited review?
A limited review is a review of the vendor that includes all due diligence documentation, collected and analyzed according to NCUA vendor guidelines.

 

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