LEVERAGE, the service corporation of the League of Southeastern Credit Unions, has joined with StrategicPartners and CU Solutions Group to acquire Credit Union VendorManagement in Morrison, Colo.

CUVM is a provider of a contract management solution thatmanages vendor relationships, helping credit unions to comply withvendor due diligence and minimize vendor risks.

“This collaboration between our three league servicecorporations is a great example of the type of partnership neededto bring great products and services to credit unions,” saidLEVERAGE President/CEO Patrick La Pine.

“CUVM has a proven name in the marketplace and we look forwardto offering it to more credit unions across the country and easingtheir contract management burden,” said La Pine, who also heads upthe LSCU.

CUVM was developed as a CUSO by a group of credit unions,vendors and industry professionals to provide a reliable outsourcedsolution for vendor management and due diligence.

The new ownership group consists of LEVERAGE; StrategicPartners, Mountain West Credit Union Association's servicecorporation; and CU Solutions Group, a national CUSO with a broadbase of credit union system owners.

The CUVM ownership group has a long history of supporting creditunions with solutions that enhance their ability to serve theirmembership, they said in a release. The group combines operationaland sales expertise, as well as long-lasting credit unionrelationships.

“We are very excited about the acquisition and additionalresources this ownership group will provide CUVM,” said CUVMfounder Rock Carter. “Joining this group will better enable CUVM tomaintain its role as an industry leading, vendor managementprovider while also maintaining credit union ownership.”

The deal looks to take vendor management to a strategic level byenhancing contract management processes and providing efficiencieswith regards to purchasing. The CUVM platform will allow creditunions to focus resources on serving members, while ensuring thattheir vendor management program meets required NCUA standards.

“With the growing volume of regulatory compliance requirements,automation and overall risk management are critical for creditunions,” said Dave Adams, CEO of CU Solutions Group. “CUVM is agreat solution for helping credit unions manage and automate vendordue diligence; it also provides the personal touch of supportingclients, including assisting with the collection of vendorinformation.”

“Now, more credit unions will be able to utilize a much morerobust vendor management program,” added Mountain West Senior VicePresident Mike Atchison. “With the additional resources of thethree partners, the program will also see increased enhancementsgoing forward. The ability to scale is another key piece to thepuzzle.”