Credit Union Vendor Management now preferred vendor of CU Risk Intelligence
TALLAHASSEE, FLA. (March 15, 2021) —
Credit Union Vendor Management (CUVM) recently became the preferred vendor management solution for CU Risk Intelligence (CURI) a credit-union-centric risk management platform following a multi-party deal with Affiliates Consolidated Services (ACS), the holding company for the League of Southeastern Credit Unions & Affiliates (LSCU), CU Solutions Group (CUSG), the service corp. for the Michigan Credit Union League (MCUL) and CURI.
Through this deal, ACS has become an owner of CURI along with AffirmX, League InfoSight, CU Solutions Group, CU Resources (Cornerstone Credit Union League’s service corporation), the Mountain West Credit Union Association, Maryland & DC Credit Union Association, Indiana Credit Union League and Credit Union League of Connecticut; and CURI becomes an owner of CUVM, an organization also owned by ACS and Mountain West Credit Union Association.
CURI combined the expertise of League InfoSight and AffirmX to provide affordable solutions addressing the governance, risk management and compliance needs of credit unions of all sizes. As a new owner of CUVM, CURI will sell its vendor management solutions among its other top-tier applications.
Similarly, ACS, through its subsidiary LEVERAGE, will offer CURI’s suite of products to credit unions in Alabama, Florida, and Georgia.
“We are so excited to delve deeper into the ways our separate suites of products can complement each other,” said Kelli Silvernale, vice president of CUVM. “This is such a great deal for CUVM, CURI and ACS – but the ultimate winners will be our clients who can now benefit from this greater array of quality services.”
As part of the deal, ACS has strengthened its strategic partnership with CUVM by increasing its ownership of the company to 51% by purchasing an 11% share from CUSG, who also sold their remaining stake in CUVM to CURI. The Mountain West Credit Union Association remains as the third owner in CUVM.
“Our mission at ACS is to continuously strengthen the products and services we can offer client credit unions to allow them to serve their members in the best way possible,” said Patrick La Pine, CEO of ACS. “We believe in the offerings of CURI and of CUVM and we anticipate great things from this strategic partnership. I’m certain this deal will prove nothing but beneficial to all entities involved – and, most of all, to credit unions.”
About Credit Union Vendor Management (CUVM).
CUVM provides simple, proven solutions for all aspects of credit union vendor management. Currently serving more than 200 clients in 35 states, CUVM streamlines the vendor management process, centralizes storage and retrieval of all due diligence documentation, meets NCUA requirements, provides seamless disaster recovery, and ensures that all contracts are compliance friendly, while at the same time helping credit unions save time and lower operational expenses. Specializing exclusively in vendor management, CUVM provides unprecedented personal service. To learn more, visit www.cuvm.org.
About Affiliates Consolidated Services (ACS).
ACS is the holding company for the League of Southeastern Credit Unions (LSCU) and LEVERAGE, the LSCU Service Corporation. ACS is governed by a board of nine that includes eight credit union executives from Alabama, Florida and Georgia as well as CEO Patrick La Pine. To learn more, visit https://lscu.coop/about/index.php.
About Credit Union Risk Intelligence (CURI).
Combining the knowledge and expertise of industry leaders including CU Solutions Group, CURI’s approach to governance, risk and compliance (GRC) management is to provide affordable solutions to credit unions of all sizes and sophistication. With countless years of combined experience, our solutions are continually innovated by credit unions, for credit unions, in direct response to the pain points and challenges facing today’s financial services industry. To learn more, visit http://www.curiskintelligence.com/