...because of compliance demands
Latest in a series about the value of League membership
Compliance remained one of the most in-demand League services in 2013. This assistance helps to reduce credit unions’ exposure to regulatory penalties, prepare credit unions for visits by regulators and protect the credit union and its members from liabilities that have the potential to affect income, member service, reputation and more. So far in 2013 we:
"League membership allows credit unions to
access one of the largest collections of searchable online credit union
compliance resources specifically tailored to our unique combination of
state and federal rules," said John Engel, Director of Legal
"We've strived to make the compliance content on our website a one-stop-shop that addresses the most common compliance-related questions our members pose. And those resources break down some extremely complex issues so that credit unions can feel confident they have their compliance bases covered."
"Employees charged with compliance responsibilities often wear many hats," Engel said. "So our resources make compliance not only more understandable, but explain what to do or not to do given particular circumstances so that staff can expedite compliance decisions with less time away from serving members."
He encourages credit unions struggling to juggle compliance responsibilities to look into the Compliance Specialist Program through The League Services Corp. The program draws upon the compliance resources at The League and adds personnel to the equation. Instead of stretching your staff to try to keep up with compliance, a trained specialist tackles the issues for you.
"This program gives you a Compliance Specialist that divides his or her time with several credit unions in your area," he said. "That allows credit unions to use the help of a Specialist as much as needed – a lot or just a little – depending on what needs doing and what they can afford. Credit unions of all sizes and staffing have used the program to make leaps ahead on compliance workload."
For more information on the program,
Whiting at (262) 408-6044.
Watch League News for more about what we have accomplished together in 2013 as a united League. Our entire article series is being archived as it unfolds at www.theleague.coop/membershipmatters.
Our entire article series about what we have accomplished together in 2013 as a united League is archived at www.theleague.coop/membershipmatters.
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