This guidance was developed to assist in the evaluation of basic planning, due diligence, and controls credit unions should have in place when engaging in third party relationships. The planning, due diligence, and controls required to safely engage in these relationships will depend upon credit union risk profiles and the type of relationship with the vendor.
NCUA: Letter to Credit Unions No. 07-CU-13 – Evaluating Third Party Relationships (December 2007)
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