June 4th, 2010 – Langley Federal Credit Union recently signed contracts with Quantivate for the use of 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.
LFCU (Langley Federal Credit Union) is a full-service, not for profit financial institution based in Newport News, VA. The credit union originated in 1936 to serve the employees of NASA Langley Research Center. Its field of membership has expanded to include Langley Air Force Base, other military, and several hundred businesses and organizations. With assets in excess of $1.6 billion, LFCU is one of the largest 100 credit unions in the country. For additional information, visit www.langleyfcu.org.
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).