May 21st, 2010 – Nordstrom Federal Credit Union has been with Quantivate for two years, utilizing their vendor management software and vendor management service. The regulated financial industry sees our product as a way to help them preserve much needed capital and meet regulatory requirements. We are honored to have them as our customer.
Nordstrom Federal Credit Union was chartered in 1936 as Best’s Federal Credit Union. In the mid l970’s, Best’s Apparel was purchased by Nordstrom Shoe Store and became Nordstrom-Best’s the credit union changed its name to Nordstrom FCU. We continue today to only serve Nordstrom employees and their families nationwide. There are currently over 150 stores including the Rack Division. Our assets have grown to $40 million and membership reaches 9,000. Being members of the shared branch (FSCC) for the past 20 years is our secret to serving our nationwide membership from Seattle, WA.
“Our partnership with Quantivate brings us into this century meeting the demands of compliance and regulations. Vendor management, business continuity and most currently, disaster recovery provided by Quantivate leaves us valuable time to serve our membership.”
Nordstrom Federal Credit Union
The Credit Union Vendor Management Program (CU Vendor) is a comprehensive solution designed specifically for credit unions to manage their vendor contract relationships. CU Vendor has been developed to satisfy the compliance requirements under NCUA’s Guidance for Evaluating Third Party Relationships Risk (NCUA Letter 07-CU-13).
Quantivate was founded in 2005 by Andy Vanderhoff and Michael Carter, two industry experts who have implemented Disaster Recovery and Business Continuity for many Fortune 1000 companies including Progressive Insurance, AT&T Wireless, Boeing, Safeco Insurance and most recently Washington Mutual. In 2006 the first version of Prizm was released. In 2007 Quantivate released the industry’s first Business Continuity service model. This made business continuity affordable and accessible to all organizations and industries.
Today Quantivate’s current customer base includes a diverse set of organizations such as World Vision (a billion dollar non-profit), King County (the 12th largest county in the US), Alaska Airlines (11th largest domestic airline), Snohomish County Public Utilities District, and Banner Bank (a growing regional community bank). Quantivate, based in Redmond, WA is a privately held limited liability company.