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Details about vendor risk management tool available

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MADISON, Wis. (1/8/09)--More details are available about VendorTrack, a new CUNA Strategic Service (CSS), which will be the topic of several online demos this month and in February. VendorTrack is a Web-based vendor risk management solution offered by CSS and powered by TraceSecurity. It will be the focus of several webcasts offered Jan. 21, Feb. 4 and Feb. 18 at 1 p.m. CT. VendorTrack aims to help credit unions ensure that their third-party vendors comply with regulatory responsibilities and best practices when dealing with sensitive information. VendorTrack’s basic functionality is available to credit unions for free. VendorTrack will:
* Secure uploads and store data for documents such as policies, procedures, financials, SAS 70 and other due diligence information; * Create and maintain a list of current vendors and the importance of each relationship; * Upload third-party contracts and receive e-mail notifications to track contract dates; * Access vendor due diligence files that contain responses to CSS’ due diligence questionnaires, or due diligence files and information uploaded by credit unions; * Receive e-mail notifications for due diligence updates; * Offer a resource to prospect and compare potential new third-party relationships; and * Use other due diligence resource information including request for propoals, business plan and risk management updates.

Corporate Central announces events schedule

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MUSKEGO, Wis. (1/8/09)--Corporate Central CU, Muskego, Wis., announced several upcoming events. On March 17, the credit union will host a risk management and compliance seminar at the corporate’s headquarters in Muskego. On May 7, it will host the Corporate Central Annual Meeting at the Midwest Airlines Center in Milwaukee. The credit union’s Executive Summit will take place June 17-18. Its Strategic Balance Sheet Management Conference is scheduled for Aug. 12 at the corporate, and its Economic Outlook will take place Oct. 7. Locations for the Executive Summit and Economic Outlook will be announced later.

CUAnswers to offer cost reductions for CU clients

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GRAND RAPIDS, Mich. (1/8/09)--CU*Answers is offering cost reductions that could save its credit union clients $300,000 annually. Credit unions using CU*Base in 2009 are eligible for the cuts. “Dividend checks are nice, but price cuts and delivering increasing value everyday is more in line with how I see the credit union model,” said CU*Answers CEO Randy Karnes. CU*Answers experienced several successes last year that allowed the company to offer the reductions. During 2008, CU*Answers provided $1.14 million in combined dividends back to its credit union owners, generated $29 million in sales and increased its stock value by 33%. CU*Answers is a credit union service organization in Grand Rapids, Mich.