CU*Answers is proud to be organized as both a credit union service organization and a cooperative business owned by our clients. We believe the governance structure of our cooperative is significantly more open, democratic, transparent and inclusive than many of our competitors. CU*Answers is owned and democratically controlled by the clients who actually use our products, rather than by third parties whose only stake is their financial investment.
As a technology firm, CU*Answers is often asked to sign Non-Disclosure Agreements (“NDAs”) with our partners and vendors. Our leadership recognizes NDAs are extremely common in our industry, and our policy has been to review the terms carefully. CU*Answers then negotiates the terms whenever the terms conflict with our organizational model. Unfortunately, given the sheer volume of NDAs, CU*Answers is now subject to hundreds of pages of terms from our partners and vendors. In addition, many partners and vendors wish CU*Answers to sign NDA agreements at the outset of the relationship. This demand significantly slows down the pace of business as we spend time negotiating acceptable terms given our status as a cooperative. Furthermore, as a cooperative CU*Answers has a responsibility to share certain information among our clients and peers. Therefore, when CU*Answers is asked to sign an NDA we will provide one of four pre-drafted NDA agreements. Our policy recognizes certain information, such as federally protected member and employee information, must always be kept confidential and inviolable. CU*Answers will also never knowingly usurp protected property and trademark rights. However, CU*Answers will always intend to both compete in our market space and continue the work of developing products and enhancements demanded by our consumers, until dictated otherwise by a new business relationship. CU*Answers believes these agreements are fair, mutually beneficial, and less burdensome than most NDAs. We hope you will keep an open mind as you review our templates as we develop a strong business relationship together.
TYPE I PRELIMINARY
This NDA is for emerging business relationships. The confidentiality provisions will prevent disclosure of both information protected by law and information damaging to our partner if disclosed. Both parties may continue competing for market share, employees, and new products until the relationship is advanced by the parties.
TYPE II ADVANCED
This NDA is a supplement to a preliminary NDA and is designed for a business relationship that has been agreed upon. This NDA will extend protection to key information needed by the parties to advance the relationship, and CU*Answers may agree not to compete so as not to damage the relationship.
TYPE III MULTI-PARTY
This NDA is used when a multi-party agreement is required, such as when a client asks a third party to develop a relationship with us for the benefit of the client.
TYPE IV WIND DOWN
This NDA is intended for business relationships that are winding down. As such, this NDA will have the broadest protection of the templates.