Credit Unions Must Actively Manage Vendor Relationships

Like any corporation, credit unions rely on a number of other businesses for materials, support, maintenance and more. Outsourcing these other activities allows credit unions to keep their costs efficient and their resources focused on their core banking functions instead. Because more and more credit unions are out-sourcing activities, the National Credit Union Association (NCUA) has outlined requirements for managing third party relationships.

2019-10-11T13:37:10-04:00December 5, 2016|Categories: Consulting, Credit Unions, Cybersecurity, Financial Institutions|Tags: , |

Assessing a Credit Union’s Risk

Risk is the one element that lurks in the background of all businesses, impacting them in some form or fashion. When defining objectives, it is always important for a business to calculate risk and determine the amount of risk they are willing to accept.

Many Questions Remain After International Banking Heist

Tesco Bank, a Scotland-based bank and subsidiary of U.K. supermarket giant Tesco, recently blocked all online transactions tied to customers' checking accounts after money was [...]

Rules of Engagement: Dealing With External Auditors

Banks’ financial statements tell their performance story to the outside world. Because the banks’ independent external auditor’s reports provide assurance about the quality of the [...]

2023-07-11T09:59:48-04:00September 29, 2015|Categories: Audit & Assurance, Financial Institutions|Tags: |
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