Overview:

• Organization: Bay Federal Credit Union
  
• Headquarters: Capitola, California
  
• Asset Size: $1.85 billion
• Members: 96,000
• Industry: Financial Services (Credit Unions)
• Interviewee: Richard Roark, Senior Vice President and Chief Technology Officer
• Solution: Rivial Risk Assessment and Vendor Management Platform

Video Testimonial

Executive Summary

Bay Federal Credit Union, a $1.85 billion institution serving approximately 96,000 members along California's central coast, faced a common challenge in the credit union industry: finding a vendor partner that could deliver comprehensive security and risk management solutions while truly understanding the unique needs of credit unions. After years of working with various tools that fell short of expectations, Bay Federal found a lasting partnership with Rivial Data Security—a relationship that has now spanned over a decade and continues to evolve.

The Challenge: Finding the Right Partner

Before partnering with Rivial, Bay Federal Credit Union struggled with a fragmented approach to risk management and security. Like many credit unions, they relied on multiple vendor solutions that often failed to deliver on their promises.

Key Pain Points

• Fragmented Tools: No single solution checked all the boxes, forcing reliance on multiple systems to achieve desired outcomes
  
  
• Unmet Expectations: Previous vendor partners failed to deliver on promises and ultimately let the credit union down
  
  

• Lack of True Partnership: Vendors often viewed the credit union as a revenue stream rather than a collaborative partner

• Resource Constraints: A lean team of just three to four people managing security and infrastructure needed reliable support

• Compliance Gaps: Standard penetration tests weren't enough—comprehensive annual risk assessments were needed to ensure regulatory compliance

What Sets Rivial Apart

• Credit Union Focus: Strong commitment to moving the credit union industry forward from a security and regulatory compliance standpoint

• Willingness to Listen: Rivial consistently sits down with clients to understand their unique needs and challenges

   

Implementation Experience

The implementation process was straightforward and client-centered:

• Direct, High-Touch Support: Leadership was hands-on from day one, guiding the team through every step of the risk assessment process

• Evolving Methodology: What once required two weeks of meetings has transformed into a streamlined, email-based checklist approach

• Cross-Departmental Alignment: The solution respects shared responsibilities across deposit operations, lending, accounting, and technology

Key Benefit 1:

Clarifying Ownership and Accountability

One of the most significant impacts of working with Rivial has been establishing clear ownership of systems and responsibilities across the organization. R

• Resolved Confusion: Eliminated longstanding questions about who owns what system

• Aligned Expectations: Established clear annual review processes and vendor management responsibilities

• Collaborative Approach: CFO reviews financials, CTO focuses on security—all within a unified platform

"Vendor management is no longer a question mark," Roark explained. "Rivial helped us get to a really strong point, understanding our critical systems, where our data resides, and being able to have all of that within the platform."

Key Benefit 2: 

Streamlined Regulatory Examinations

The partnership has significantly improved Bay Federal's examination process with the NCUA:

• One-Click Reporting: Comprehensive reports generated at the push of a button
• Examiner Confidence: NCUA examiners recognize the rigor behind Rivial's risk assessments
• Reduced Friction: Examinations focus on areas of true risk rather than baseline compliance questions
• Centralized Tracking: All findings from NCUA examinations, third-party audits, and penetration testing are tracked and assigned within the platform

"Once I show folks that we are using Rivial, that they're doing the risk assessments for me, the NCUA typically asks different questions at that point," Roark shared. "Knowing that I'm probably in a good place, they've got all the data ahead of time."

Key Benefit 3: 

Cost Savings Through Consolidation

As Rivial's platform has expanded its capabilities, Bay Federal has been able to:

• Eliminate Redundant Tools: Retire unnecessary third-party systems as Rivial adds functionality

• Reallocate Resources: Direct savings back to members or toward advancing strategic initiatives

"If I can eliminate a $10,000 expense of another software application because Rivial's got maybe 85 to 90 percent of the functionality built in, I'd rather go with what I already have and save that money for giving it back to the members or advancing our strategic plan overall."

Key Benefit 4:

Enhanced Vendor Management

Bay Federal is currently expanding its use of Rivial's vendor management module:

• Centralized Tracking: All critical and non-critical vendor partners with agreements and renewal clauses in one place

• AI-Powered Automation: Built-in AI capabilities analyze security and privacy documentation to help answer assessment questions automatically

• Reduced Vendor Burden: Streamlined questionnaire process that vendors are more willing to complete

• Organization-Wide Potential: Evaluating expansion to house all vendors across the entire organization within Rivial

"There's a lot more that we can do. Even with the built-in AI capabilities now within the vendor management module within Rivial, which takes in a lot of the security and privacy documentation and helps us answer those questions for us, that saves a lot of time."

Case Study Conclusions

For credit unions seeking a vendor partner that truly understands their unique needs, Bay Federal Credit Union's decade-long partnership with Rivial Security demonstrates what's possible when the right fit is found. Through:

• Comprehensive risk assessments

• Streamlined compliance processes

• Cost savings through consolidation

• Genuine commitment to partnership

Rivial has helped Bay Federal strengthen its security posture while staying focused on what matters most—serving its 96,000 members along California's central coast. As Roark summarized: "Rivial's got an excellent team... just keep doing what you're doing."