Case Study: Lafayette Federal Credit Union achieves streamlined, cost‑saving vendor and contract management with Ncontracts

Employing expert vendor management advice that delivers value

Lafayette Federal Credit Union, a $500 million asset credit union in Rockville, MD, faced growing regulatory scrutiny and rising complexity in managing third‑party and critical vendor relationships. To find a cost‑effective way to handle increasing contract volume and meet examiner expectations, Lafayette Federal Credit Union selected Ncontracts and adopted Ncontracts Manager.

Ncontracts implemented Ncontracts Manager to provide expert contract reviews, executive summaries, a secure centralized repository, automated alerts and ongoing vendor risk monitoring (including Nvendor capabilities). The service caught issues such as an out‑of‑date SSAE 16 before regulators did, reduced the need for additional staff or costly external counsel, streamlined documentation for audits, and freed senior staff to focus on broader risk assessments—delivering measurable cost savings and stronger vendor oversight for Lafayette Federal Credit Union.

Lafayette Federal Credit Union

Lynn English

Senior Vice President of Risk Management