ViClarity Compliance Update

Navigating budget season; embracing FinCEN's new flexibility for TIN collection; and ensuring compliance during core conversions.

The Dakota Credit Union Association’s dues-supported compliance solution –  ViClarity – is a world leader in credit union compliance. To read the complete articles/answers that are linked, you will need to log in with your username and password. If you have questions about establishing your members-only account with ViClarity, click here for detailed instructions or contact DakCU's John Alexander.​ 

Budget Season… How Does It Impact Your Audit Schedule?
Budget season is always a tricky time of year to navigate. It can be extremely stressful for credit union internal auditors. How do you decide which audits happen and which don’t? Learn more here.

Changing It Up! FinCEN Permits FIs to Use Alternative Collection Methods for Obtaining TIN Information
The Financial Crimes Enforcement Network (FinCEN) has permitted financial institutions to use alternative methods of collecting Tax Identification Number (TIN) information. This recent development essentially functions as a regulatory exception to existing Customer Identification Program (CIP) requirements. Read more here.

Core Conversion, Core Compliance: Balancing Innovation and Regulation
A core system conversion is one of the most significant technology and operational undertakings a credit union can undergo. It handles everything from deposit and loan processing to member data management, online banking, and reporting. While essential for modernization, these conversions bring inherent risks particularly from a regulatory compliance viewpoint. A seamless integration of compliance requirements during the conversion is vital to upholding regulatory standards and safeguarding institutional credibility. Find out more here. 

Click here for July 2025 Q&A.
​