What’s a League business partner?

on "May 18, 2020 10:34 am"

Strategic business partners are selected for the ability to provide turnkey solutions, exceptional service, and competitive pricing to credit unions. Through Hawaii Credit Union League’s wholly-owned subsidiary – HCU Services Corporation (HCUS) – potential business partners are investigated for viability, innovation, use of technology, and alignment with the credit union philosophy of "People Helping People." 

 

The goal is to help member credit unions compete more effectively through the development of strategic alliances that offer high quality products and services which contribute to the credit unions bottom line and enhance member relationships. 

CLICK HERE FOR A LIST OF HCUL BUSINESS PARTNERS

HCUS accomplishes this goal through a proactive Request for Proposal process to determine if the product or service satisfies a strategic need and provides high value to the credit union and/or its members. In addition, HCUS conducts background checks of potential vendors that include:

  • Reviewing a minimum of two additional prospective vendors to determine the most qualified to meet member credit union needs.
  • Obtaining references from other leagues, credit unions, etc.
  • Investigating sources such as Better Business Bureau, to determine if complaint histories exist.
  • Determining if there are outstanding litigation or legal proceedings involving the potential vendor and/or its principles.
  • Reviewing audited financial statements, privacy policy, licenses certifications and liability insurance policy.
  • Determining if any conflicts of interest exist between the vendor and other system entities.
  • Reviewing vendor business continuity plans, periodic testing and business resumption plans.
  • Establishing service level agreements between HCUS and vendor (HCUS contract incorporates a service level agreement).
  • Obtaining certificate of insurance.
  • Obtaining as required, auditor’s report (i.e.SAS 70).

Through "cooperative purchasing," HCUS harnesses the buying power of credit unions to establish a single dominant presence in the market place. HCUS promotes the "one-stop-shop" concept and is committed to helping affiliated credit unions succeed.