NCUA Compliance: Three Vendor Financial Statements to Review
Venminder
August 16, 2024
Due diligence is an important focus area in the National Credit Union Administration’s (NCUA) guidance on third-party risk management. In particular, the guidance states that “credit unions should carefully review the financial condition of third parties and their closely related affiliates.”
These financial reviews help ensure a credit union’s third-party vendors can fulfill their contractual obligations. This infographic covers practices to maintain NCUA compliance in your third-party financial reviews.
Download this infographic to learn:
- Three vendor financial statements to review
- Red flags in vendor financial statements
- Tips for NCUA compliance
About Venminder
Venminder is an innovative, customer-motivated company that is mission-driven to help solve the many challenges organizations face when managing risks from outsourcing to third parties.
Venminder provides a dedicated platform to empower effective end-to-end lifecycle management and mitigation of third-party risks. Venminder creates long-term collaborative partnerships with their customers, providing implementation assistance, product and best practices training, ongoing support, access to expertise and more.