Due Diligence Over Third Party Service Providers

Citation
National Credit Union Administration, Due Diligence Over Third Party Service Providers (Letter to Credit Unions No. 01-CU-20) (Nov. 2001) (full-text).

Overview
Credit union officials are responsible for planning, directing, and controlling the credit union's affairs. To fulfill these duties, the officials should require a due diligence review prior to entering into any arrangement with a third party service provider. Thid letter identifies minimum procedures a credit union should follow.