“Ncontracts provides an all-encompassing software solution, coupled with consulting services and paralegal support to streamline what is quickly becoming a very labor intensive process when performed in-house,” remarked Chris Felton of Corporate Central
Muskego, Wisconsin (PRWEB) June 21, 2013
Helping credit unions achieve efficient vendor management and regulatory compliance on all facets of third party oversight and due diligence is the driving force behind the partnership announced today between Corporate Central Credit Union and Ncontracts.
Corporate Central will offer Ncontracts’ formal vendor and contract management service to manage third-party risk in a way that is tailored to each relationship. Their services will help credit unions control cost, stay informed of approaching renewals and meet NCUA regulations.
“Ncontracts provides an all-encompassing software solution, coupled with consulting services and paralegal support to streamline what is quickly becoming a very labor intensive process when performed in-house,” remarked Chris Felton, Corporate Central’s Executive Vice President. “This partnership brings a much needed service to credit unions faced with growing third party oversight requirements. The fact that we can add value to our membership via our partnership pricing model with Ncontracts is a positive benefit for our members.”
Vendor management is a hot-button issue for credit unions with regulatory focus on service provider oversight. Regulations are dynamic, as are service providers, managing oversight is becoming more intense and frequent. Primary reasons why credit unions have a heightened interest in vendor management include reliance on third parties, greater regulatory scrutiny on data privacy and security, and an increasing number of highly publicized data breaches.
“We are delighted to offer Ncontracts’ vendor management services to Corporate Central’s members to relieve oversight burdens and streamline the entire process,” said Michael Berman, President and CEO of Ncontracts. “Our compliance guarantee provides robust tools to always comply with current NCUA requirements. Every financial institution utilizing Ncontracts has successfully passed the third party risk management portion of their exam.”
Corporate Central will host a webinar, presented by Ncontracts, that provides an overview of the benefits of Ncontracts’ vendor management services. The live, 30-minute webinar will be offered twice to accommodate as many credit unions as possible: Thursday, July 18, at 12:30 p.m. CT and Wednesday, July 24, at 12:30 p.m. CT.
About Corporate Central Credit Union
Corporate Central Credit Union is a federally insured financial cooperative that is strongly committed to serving the needs of our members. Built on the values of commitment to service, fiscal responsibility, and respect for the individual, Corporate Central Credit Union adheres to the highest standards of integrity, professional ethics, cooperation and teamwork. A strong focus on maintaining quality partnerships enables Corporate Central Credit Union to remain firmly rooted in the tradition of “people helping people.” In addition, by partnering with leading service providers, Corporate Central Credit Union is able to offer innovative correspondent products, investment services, and lending programs to our members. To learn more, visit http://www.corpcu.org or call (800) 242-4747.
Ncontracts® is a leading provider of vendor and contract management services in the United States. Ncontracts combines full service implementation services with a professional contract management application that provides clients with the ability to have insightful summaries of their contracts, alert notifications, and robust compliance services. Together, these features allow clients to reduce expenses, enhance profitability, and improve internal efficiencies. For more information, visit http://www.ncontracts.com or call (888) 370-5552.