PolicyWorks and TMG Release Vendor Due Diligence White Paper for Credit Unions
September 28, 2009
(Des Moines, Iowa – September 23, 2009) – To address the NCUA’s promises to enhance examination of due diligence practices, PolicyWorks and sister company TMG teamed up to issue a white paper on the topic.
According to the paper’s co-author, PolicyWorks Regulatory Counsel Andrea Stritzke, no other vendor relationship is more critical for a credit union than that with its card processor.
“Not only do card processors drive a vital revenue-generating activity for credit unions, they also house and secure member data – a hot commodity on the ever-intensifying identity black market,” writes Stritzke. “It’s easy to see why the performance of due diligence (or lack thereof) in the selection of a card processor is likely to garner the attention of an NCUA examiner.”
Stritzke co-authors the white paper with TMG’s Brian Scott, vice president of sales for the card processor CUSO. Together, the two outline a seven-step due diligence process credit unions should use in the selection of a card processor.
The white paper, “Do Your Homework; Pass the Exam - Satisfying the NCUA with Vendor
Selection Due Diligence,” is available for download at www.themembersgroup.com/the_tmg_difference/white_papers.
About PolicyWorks
PolicyWorks is an Iowa-based firm known for providing solutions to credit unions' regulatory
compliance needs and influencing critical public policy issues through its government and public
affairs services. PolicyWorks has the resources, vision and experience necessary to help credit
unions attain their desired results. For more information, visit www.PolicyWorksLLC.com.
About TMG
Owned by the Iowa Credit Union League, TMG is a financial services organization dedicated to
providing innovative customized solutions to credit unions and financial institutions across North
America. TMG’s core products include credit, debit, ATM and prepaid solutions, as well as online
reporting, item processing, ACH, ALM and printing services. TMG’s prepaid card products are
branded ATIRA. For more information visit www.TheMembersGroup.com.
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For More Information:
Kelly Moore (for TMG)
515-720-9670
