Compliance department available for on-site visits, enhanced services

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The New York Credit Union Association’s compliance department is available to assist member credit unions with examination preparedness and other operational compliance-related issues. Beyond answering specific compliance questions from member credit unions, the Association’s compliance department can also provide enhanced and customized support to New York credit unions.

As a benefit of membership, Linda Bow, the Association’s director of compliance, is available to make visits to member credit unions and assist with a variety of compliance issues. Topics covered during the visits might include:

  • exam preparedness or assistance;
  • on-site training;
  • policy updates and revisions;
  • new product or program reviews; or
  • risk assessment reviews and collaboration.

Frequently, credit unions will find they need enhanced contract-based compliance support as a result of these on-site visits. The Association’s compliance department can provide member credit unions with a range of enhanced, contract-based solutions, including:

  • individualized, ongoing regulatory compliance training for staff (both remote and on-site);
  • on-site visits for compliance reviews;
  • policy updates and revisions (annual timing requirements for presentations to the board) and publishing changes with CU Policy Pro;
  • regulatory change management;
  • quarterly loan and or deposit reviews;
  • new product or program reviews;
  • ongoing risk assessment reviews and collaboration;
  • exam assistance for findings and the implementation of processes and controls as corrective actions; and
  • the review and/or development of a compliance management system.

To learn more about the Association’s compliance services, contact Bow at linda.bow@nycua.org or (800) 342-9835, ext. 8143, or visit the compliance section on the Association’s website.

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