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CUANY, Digital Compliance Announce Strategic Partnership

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ALBANY, N.Y. and ELIZABETHTOWN, Ky. (12/6/13)--The Credit Union Association of New York (CUANY) has entered a strategic partnership agreement with vendor management solution provider Digital Compliance.
 
Through the partnership, credit unions served by CUANY and its affiliates can access Digital Compliance's online vendor management hub for compliance documentation, contract management and guided exam report preparation. 
 
"As part of our ongoing commitment to reducing credit unions' compliance burden, we have been actively seeking a provider that can simplify and streamline the vendor management process credit unions face," said CUANY President/CEO William J. Mellin. "Digital Compliance is a leader in this arena, and we are very excited to launch this new partnership."
 
Digital Compliance's Venminder, is an online vendor management tool with modules for contract management, document acquisition, exam preparation and risk assessment.
 
CUANY affiliates Covera, CUC Mortgage Corporation and UsNet will also use Venminder to provide client credit unions with their required vendor due diligence documentation.

LendKey Reaches $500M Milestone

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NEW YORK (12/5/13)--Lending technology provider LendKey has surpassed $500 million in loan volume originated and serviced on its cloud-based platform.
 
LendKey is a CUNA Strategic Services provider.
 
"Lenders today face significant challenges in effectively deploying their capital into the retail lending market," said Vince Passione, CEO of LendKey.  "Surpassing $500 million in loans originated through our platform is a testament to the demand that lenders have for this solution.  We're excited to continue to help lenders innovatively solve this problem through student lending, as well as many other potential asset classes down the road."
 
LendKey, founded in 2008, has primarily provided financial institutions with lending platforms for private student loans and private student loan consolidations.  The company provides the student lending infrastructure for more than 260 financial institutions as a technology and business process outsourcing provider, which includes marketing and demand generation support in addition to loan origination and servicing.