Partnering to make a rigorous vetting process easier
MUSKEGO, WI (November 4, 2013) — Corporate Central Credit Union posted a new video this week on the home page of their website, http://corpcu.com/ that details the process and importance of due diligence when considering new product and service vendors.
Empower Credit Union President, Jennifer Schilling said, “Due diligence is such a major portion of running a credit union, and as frustrating as the process is, working with a partner like Corporate Central, makes the process so much easier.”
“Reading a bunch of legal documents is about as entertaining as a snail’s race.” said Robin Marohn, VP of Marketing and Business Development at Heartland Credit Union. “The due diligence that’s necessary in today’s financial environment is incredibly time consuming, and to have a partner like Corporate Central doing that for us is invaluable. They saved us an unbelievable amount of time. We can trust them to the nth degree to make sure that the due diligence has been done.”
“When it comes to due diligence, you can’t be too careful, so there’s comfort there in the way they handle their products,” said Bob Bruemmer, Executive VP of Landmark Credit Union. “Change can be scary to some people, but you need to find a way through it and Corporate Central points us in the right direction.”
Corporate Central President & CEO, Robert W. Fouch said, “We’re not going to put our reputation out there, which is really the reputation of our members, and partner with any entity until we know for sure that that relationship is going to be strong, and is going to be in the best interests of our members.”
“We have a very high standard of third party oversight,” added Executive VP Chris Felton. “It’s imperative that we stand in front of, behind, and in the middle of that third party service, and we do that. So the process by which we go through is really focused in on the risk assessments, the risk analysis, and all the really un-fun stuff. Ultimately our members are relying upon us to do our homework. I’m not going to say their work is completely eliminated because everybody has to do some due diligence, but it can be dramatically reduced for our member credit unions, and we provide that assistance. The barrier to entry for new products and services from a cost and time commitment perspective is dramatically reduced for our credit unions.”
The new Corporate Central video highlights the methodical research done by a solid corporate partner and how that solid partnership can make it easier for natural person credit unions. This video has some really cool animated graphic effects that are worth watching too.
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://corpu.com or call (800) 242-4747.