"We have been using CUVM for less than a year and have already noticed a significant improvement in our Vendor Management Program. When we started interviewing companies for solutions to a centralized Vendor Management software, we were drawn to CUVM due to how user friendly their system is and their extensive experience in the credit union industry. Their system was designed with credit unions in mind and that was apparent from our initial conversations. We were also impressed to learn that CUVM has resolved many credit unions’ NCUA findings.
The task of transitioning all of our vendor documentation seemed daunting at first but the staff at CUVM helped make the process smooth and efficient. We successfully moved over 100 vendors and supporting documentation in only a few months and I cannot speak highly enough of the quality of communication we’ve had with all CUVM staff. We look forward to continuing to mature our Vendor Management Program with the help of CUVM."
Rachel Yacob, CIA, CCUIA
Chief Audit Executive
Alloya Corporate Federal Credit Union
“We have been a CUVM client for over nine years and I have been leading the vendor management program at UMassFive for almost three years. The CUVM team has been wonderful to work with from day one and our account manager, Brooke, has gone above and beyond to help me, as well as the other managers that own vendor relationships here at UMassFive by answering general questions; providing additional training; navigating the site and getting documents uploaded; preparing for audits and exams; and assisting with our annual report to the Board of Directors. CUVM is a valuable partner.”
UMassFive College FCU
“As a title and closing company making sure all our licenses and insurances are current, is a CFPB requirement. Without CUVM it would be difficult to keep up with the multitude of expiration dates. We love CUVM notifications.”
Common Bond Title
“CUVM has been a great help in gathering documents from our vendors and the Credit Union has greatly benefitted from the quarterly reports they provide for us. Their staff is extremely helpful and kind; always willing to lend a hand. I would highly recommend CUVM to any credit union needing vendor management help!”
April Audett, CUCE, CRVPM
Chief Compliance Officer
Foothills Credit Union ($98M – Colorado)
“For smaller credit unions with limited staff, CUVM saves us significant time in managing vendor relationships. By assembling/tracking the necessary information, we are able to monitor the health of our many vendors. The software is also easy to use and the CUVM staff are outstanding.”
Tim Cook, CCUE/CUBLP
TMH Federal Credit Union ($56M – Florida)
“I am so glad we chose CUVM to manage our vendors. Their system is straightforward, easy to use, and designed by credit unions for credit unions. Preparing for a recent regulatory exam, Korie from the CUVM team was right with me providing support. The personalized service was awesome and greatly appreciated!”
FirstCoast Community Credit Union ($111M – Florida)
“CUVM has been an excellent partner and an invaluable resource with managing our contracts and due diligence requirements. It frees me up to manage other critical tasks. Their follow up is keeping me in compliance.”
Eddie Hamp, CCUE, CUCE
Vice President of Operations & Marketing
Florida West Coast Credit Union ($94M – Florida)
“We could not perform [our vendor management due diligence requirement] without CUVM Services. We have utilized their expertise in this field for over six years, and as our credit union continues to grow, the necessity to maintain this relationship only increases. Our Vendor Management exams have gone very well since we enlisted CUVM Services. The NCUA is very familiar with the company and holds their work in high regard.”
Alan W. Slagowski
Vice President Branching/Compliance
Hercules First Federal Credit Union ($57M – Utah)
"The regulatory environment has changed and we can no longer do business with our vendors based on a wink and a handshake. Contracts are complex and some can be quite overwhelming, unless you have a law degree. Not to mention the calendaring involved to stay on top of renewals can interrupt your day constantly. There are may companies that want to manage that vendor business for you. However, with the increased regulatory requirements, when you entrust that risk to someone else, you better not make a mistake. Several years ago we found CUVM, and couldn't be happier. They know the difference between high, medium, and low priority items and use the appropriate methods, I.e. they don't make everything a fire drill. We receive plenty of advanced notice on expiring contracts. We are made aware of the few vendors that are not cooperating, etc., and the rest is seamlessly managed. It really has been a perfect relationship for our small company and our limited resources. I imagine the benefit to a larger company would be exponentially even greater. Also, I love it when salesmen call and tell me how they can make my life easier with regard to vendor management. I politely let them know- that is not even possible, and those calls end quite quickly. In today's market, where resources and budgets are stretched to the breaking point, I am glad to know this is one area I don't have to worry about. I am proud to recommend CUVM and their incredible staff for any of your vendor management needs."
VP Risk Management
Horizon Utah Federal Credit Union ($187M – Utah)
“I would just like to take a minute and brag about CUVM and the wonderful work they do for our Credit Union.
We have been with CUVM for the past 16 years and it’s probably one of the best decisions I could have ever made. It’s so nice to have them track and take care of all the Vendors that we use and make sure we are in compliance with all the vendor documentation that NCUA requires for our CU.
I can attest to the effort and time savings that they have provided to me. If I had to track and collect all the required documents that are required with each Vendor…that would become me entire job, but they make it very easy, and the Auditors are always pleased with their reports.
I have had the privilege of working with a few different staff members through the years, and I can honestly say that everyone of them have been a pleasure to work with, are very professional and competent in their jobs. I can’t thank them enough. ”
Varex Federal Credit Union ($19M – Utah)
“I appreciate that CUVM is working behind the scenes to gather necessary vendor documentation from our vendors. The CUVM staff are very helpful in answering any questions I have and assisting me with navigation of the CUVM platform. I now have a renewed outlook on my CU’s vendor management program.”
Linda Wilson, CUCE, BSACS
CGR Credit Union ($86M – Georgia)
“Hawaii Central Federal Credit Union has been utilizing CUVM since 2010, and we are extremely happy with the service provided by CUVM. CUVM provides a portal where all due diligence documentation is kept for each vendor and works with our vendors to acquire the necessary documentation. CUVM notifies us when there is an issue in acquiring documentation from our vendors. The portal is very intuitive; and if there is an issue, the CUVM staff is very willing to assist. The biggest kudo I can give to CUVM is that we have never been cited by the NCUA for being deficient in vendor management. I wholeheartedly endorse CUVM for vendor management services.”
Bruce M. Rosen
Executive Vice President
Hawaii Central Federal Credit Union ($154M – Hawaii)