Vendor Performance Management Case Study
SkyPoint Federal Credit Union
Executive Overview
County Employees Federal Credit Union (MCEFCU), now SkyPoint FCU. The credit union has been successfully serving this community and the surrounding region, growing exponentially over the years and experiencing steady loan portfolio growth.
Challenges
• Struggling to collect and organize high volume of vendor data• Time-consuming and overwhelming processes posed a hurdle to compliance
• Needed a way to comply with NCUA’s more stringent vendor management rules
Solutions
Results Achieved
Saved
Saved over $1 million
Grew
53% asset growth and 116% rise in total loans
Increased
18% membership increase