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Compliance is a critical component of your vendor management program. Done correctly, good compliance is a stepping stone to expense reduction.
Credit unions and community banks unintentionally waste millions of dollars every year. The easiest, fastest way to stop wasting your money is your vendor management program.
We know you have engaged Maple Street to assist with managing your vendors, but did you know we’re also here to help you pass your exam?
You don’t have time to fully review all of the due diligence documentation every year for every critical and important vendor you’re responsible for. We have a time-saving solution that will help!
The Credit Union Times recently reported third-and-fourth quarter data released by the NCUA revealed a 12-month trend in branch closings throughout the United States and its territories. This decline resulted in 449 branch closings in 2020.
As we move into the second quarter, now is a great time to assess how your vendors are performing during a period when technology is critical to meeting your members’ or customers’ needs.
In 1939, as the U.S. was beginning to recover from the Great Depression and working to regain confidence in banking institutions, seven residents of Menomonie, Wisconsin applied for a charter to establish Menomonie Farmers Credit Union.
In the early 1950s, a group of 10 teachers in Titusville, Florida, united to form a member-owned financial cooperative for fellow community educators.
For those who haven’t heard of a Business Impact Report, or BIR, it’s an interactive tool Maple Street creates for our clients to help gain an accurate inventory of incomplete vendor contracts for compliance / due diligence throughout the year to maintain an on-going healthy vendor program.
A recent CUNA forecast predicts credit unions’ ROA will fall over the next two years. The study revealed credit union earnings would remain depressed because of lower interest rates and less non-interest income.
Get laser focused on managing your vendors now!
Request a meeting with a professional vendor management expert today