Compliance Solutions with Amy K

​We have solutions to help manage your regulatory and compliance burdens.  Membership has its privileges – are you taking advantage of your options? 

We Have Solutions!
The Dakota Credit Union Association (DakCU) assists member credit unions in finding cost-effective solutions to help reduce regulatory and compliance burdens.  Today, I would like to highlight some of the products and services that are available to you – many are provided as a FREE benefit of your membership! 

InfoSight
InfoSight provides immediate access to current compliance topics​ which explain in laymen’s terms: What is the issue​; How it affects credit unions​; What credit unions need to do — the action steps needed​. InfoSight also provides helpful tools, such as frequently asked questions and checklists.

This is NOT just for the Compliance Officer!  Compliance touches every area of the CU and InfoSight can provide information for front line staff, HR, Loan Officer, Board & Volunteers, Executive Staff, Marketing, Collections, and more.  InfoSight is provided as a FREE benefit of membership for affiliated credit unions.

COMING VERY SOON to InfoSight: Check Deposit Notice Generator.  Consistently and objectively prevent all check losses for your members and credit union.  Your credit union is exposed to thousands of dollars in liability on every check taken for deposit.  Now you can prevent large check deposit losses, reduce significant expenses and provide demonstrably consistent beneficial member service in seconds.

ALSO COMING VERY SOON to InfoSight: Account Insurance Estimator.  Estimate all key NCUSIF coverages and sell more profitable products and services.  Your credit union has hundreds of thousands (if not tens of millions) of members’ funds in the NCUSIF with very little return for members.  Now you can estimate all key NCUSIF coverages, promote your credit union and sell more products and services instantly.

CU PolicyPro
Online policy service providing more than 230 complete operation model policies for credit unions.  This full policy management system allows credit unions to edit, store, audit, distribute, and archive policies.  Assignments, alerts and reminders help credit unions keep their policies up to date as regulations change over time.  CU PolicyPro is provided as a FREE benefit of membership for affiliated credit unions.

CECL
DakCU partnered with another state association that has developed and shared with us CECL resources geared toward helping small credit unions across the country meet the new CECL requirements.  We think these resources can be a game changer for credit unions in the Dakotas: Spreadsheets demonstrating methods; A primer detailing the information behind the spreadsheets; and Videos walking you through the primer and spreadsheets.

Custom Performance Reports
Custom Performance Reports are provided bi-annually as a benefit of your DakCU membership. The reports highlight and measure many areas of performance, including loans, shares, fee and other income, capital analysis, and liquidity trends, just to name a few.  The analysis helps credit unions assess their performance levels by comparing this year’s results with previous results, by comparing trends in relation to your peer group or other benchmark, and by graphical information that provide additional insight into your credit union.

RateWatch Report
RateWatch reports provide a competitive comparison at the national level as well as the state level for either North Dakota or South Dakota.  With rates, fees, and much more, RateWatch reports are designed to help you make informed pricing decisions faster and easier by providing relevant, timely, and accurate competitor data.  Reports are comprehensive yet concise, giving you just the information you need, when you need it, in a format you can use.  These reports are provided annually as a benefit of DakCU membership.

RecoveryPro
The RecoveryPro Disaster Planning Manual provides an organized approach to developing your business continuity plan.  From identifying potential risks to creating emergency procedures to documenting procedures for restoring key technologies and services for your credit unions, RecoveryPro will guide you through it all. Learn more about this product here.

ComplySight
ComplySight takes complex regulations and turns them into simple, straightforward summary language.  ComplySight includes 16 areas of compliance and over 700 compliance factors for self-evaluation and self-grading.  As a self-evaluation tool, a credit union can assess its regulatory compliance risk and identify potential trends or areas of possible noncompliance for immediate corrective action.

ComplySight also includes a comprehensive complaint management system to track complaints to ensure responsiveness and responsibility with reporting to identify potential trends or areas needing improvement. The system allows the credit union to assign tasks to employees and record corrective action.
 
AffirmX Compliance Monitoring
AffirmX is the industry-leading compliance solution, providing credit unions with a palette of service offerings that systemizes checks and balances and is essential for safety and soundness.  As part of the AffirmX advantage, a panel of compliance experts conducts a thorough analysis behind the scenes by examining internal and external factors, taking your compliance to the next level based on risk.  AffirmX’s patented technology together with risk-intelligence analysts will deliver the solution your credit union needs, for far less than the traditional audit and review service.

By combining user-friendly workflows with expert analysis and a risk-based dashboard, AffirmX helps your team stay ahead of compliance issues covering core functional areas of your credit union including: Advertising/Marketing, BSA, Compliance Management, Deposits, Lending (Consumer and Real Estate) and Operations.

In addition to the Compliance Monitoring solution, AffirmX offers a suite of solutions including Fair Lending Assessments; Loan File Reviews and Internal Audit Outsourcing – just to name a few.

AffirmX BSA/ACH/Website and SAFE Act audit package.
Experience how easily AffirmX can help reduce risk management workloads, anxieties and costs with their Four Report Package, each of which is critical to a healthy compliance program: BSA Independent Audit Annual ACH Independent Audit; Annual SAFE Act Independent Audit; and Website Compliance Review.  Any audit may be omitted with a price reduction.

PayLynxs
PayLynxs is an easy-to-use, affordable compliance automation software service for AML, BSA and Watch List scanning.  The software comes with out-of-the-box default settings in place so that you can start using PayLynxs immediately.  PayLynxs is pre-integrated with most major core data processors to receive overnight batch files.

Credit Union Compliance Management System
Credit Union Compliance Management System™ (CU CMS) is specifically designed for credit unions to streamline the entire regulatory compliance process.  It’s your newest DakCU member benefit! 
CU CMS is an intuitive, scalable compliance solution that includes timely regulation alerts, guided workflows and an advertising review tool, as well as a federal and state law and regulation library, evidence tracking, RISK alerts from CUNA Mutual Group and an easy-to-use dashboard.

Training
Your Dakota Credit Union Association offers cost-effective, quality education options designed to meet the specific training needs of volunteers, staff and management.  Train as much as you want, without ever leaving your office!  Participants may choose from options like OnCourse Learning, Credit Union Webinar Network, or the CUNA Professional Development Online, the premier web-based training service for the credit union industry. 

Be sure to contact Amy Kleinschmit at akleinschmit@dakcu.org or 701-250-3964 for a demo, pricing, and questions on any of these solutions.