Credit Union Whitepaper on Compliance Concerns Published by CU Service Network

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The whitepaper, titled "A Faster Horse: A study on what credit unions want from their compliance provider," explores the concerns and issues credit unions have with current compliance offerings. A must read for anyone involved in their credit union's compliance.

A Faster Horse Compliance Whitepaper cover

Sr Compliance Manager Kristen Tatlock says, "We’ve found that credit unions are easily frustrated and dismissive of compliance vendors who treat them like banks. One key to a fulfilling compliance partnership is to communicate on a level where there is no “bank speak.”

Denver-based CUSO (Credit Union Service Organization) CU Service Network has published an in-depth whitepaper on what's lacking from credit union compliance services. The paper focuses on what credit unions actually want from a compliance provider, and the challenges they face in a increasingly burdensome regulatory industry.

Issues discussed in the paper include:

1. Intimacy: A lack of deep understanding about individual credit union needs from their compliance vendor
2. Flexibility: Credit unions are not able to cherry pick what fits their needs, or receive “on-call” style compliance services, both of which are desired
3. Clarity: Credit unions are often left confused with the answers they receive from their vendors

A must read for any credit union executive or compliance officer who is curious about the compliance services industry, and interested in a deeper analysis on what could be improved.

To download the whitepaper, simply click here

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Alicia Disantis
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