Vendor Supply Chain Only as Strong as its Weakest Link
Credit unions everywhere are re-evaluating their relationships with corporates and other vendors with an intensity never before seen: Settlements, ACH providers, item processors, liquidity providers, business continuity consulting, marketing advice. My suggestion: BEWARE! Make sure you are exercising your due diligence.
I know this term gets bandied about a lot lately, but in fact, nothing could be timelier. The problem is that most credit unions push the program into compliance, and then forget about it. When what they really need to do is push it to the business owners by putting it in a context that business owners understand. To put it in a non-compliance perspective, consider it this way — How do we make sure that what we need supplied to us will be there when we need it? That is what the business continuity community calls Supply Chain Continuity.