Case Study: Meriwest Credit Union achieves vendor consolidation and cost savings with Venminder

Meriwest Credit Union’s Journey to Efficient Third-Party Risk Management

Meriwest Credit Union, led by vendor manager Mary Ellen Snider, faced fragmented vendor records across 11 branches, with contracts stored in filing cabinets and regulatory document requests difficult to satisfy. After evaluating options, Meriwest selected Venminder, adopting Venminder software plus outsourced due-diligence services to centralize contract storage and streamline vendor oversight.

Venminder implemented a single cloud-based vendor management platform and handled document collection and expert analysis, added contract-expiration alerts, and provided ongoing support and training. As a result, Meriwest consolidated hundreds of vendors down to 80, lowered cost per unit/branch, improved examiner readiness and vendor decision-making, and reported measurable cost savings and greater confidence using Venminder.

Meriwest Credit Union

Mary Ellen

VP Operational Risk