In today’s tight economy, outsourcing is an increasingly common way for credit unions to offer more products and services. But how do you choose the right vendor to ensure that the work is done to your standards? The supervisory committee must make sure that adequate due diligence is taking place. This course will walk you through the necessary details while making sure there is adequate transparency and ongoing communication with the credit union management.

To receive credit for this course for your Volunteer Achievement Program recognition, you must:
1) Download the CUNA Third-Party Vendor Management Guide.
2) Download the VAP 303 Quick Study Guide
3) Read through the Management Guide using the Study Guide as an assistant.
4) Receive a passing grade on the VAP 303 exam.

Download the CUNA Third-Party Vendor Management Guide.
Use this in place of your usual book course.
We are presenting this module in a unique format. We are providing it to all credit unions as a free, downloadable PDF.

Last fall, CUNA created a Due Diligence Task Force. The task force was to respond to concerns from credit unions and regulators over how to best meet credit unions’ due diligence responsibilities involving third-party vendors without unnecessary duplication of effort. To fulfill this purpose, the task force developed a Third-Party Vendor Management Guide. The purpose of this guide is to provide credit union managers with a comprehensive review of regulatory guidance and best practices, including procedures for reviewing, selecting, and administering the relationships. Since this piece is so comprehensive, it was determined that duplicating the information would not be beneficial. Instead, we created the following VAP Quick Study Guide for those who wish to use this material for their VAP certificate.

Download the VAP 303 Quick Study Guide.
Use this to help you study for the V303 exam.
Use this guide to review the materials covered in the Third-Party Vendor Management Guide above. This guide is also free to credit unions. If you are using this module to earn a VAP certificate, or wish to have it posted to your CUNA training transcript, you will need to purchase and successfully complete exam V303.

By successfully completing the optional exam, you can earn 2 credits for the CUNA Volunteer Certification Program (Level 1, Internal Audit) toward your Certified Credit Union Volunteer designation.