LAKEWOOD, Colo.– CU Service Network [CUSN] has launched a credit union compliance service, called CU Works Compliance. This unique service focuses on customization and flexibility to meet individual credit unions’ specific needs, the company said. CU Works Compliance is the third product to be introduced in the CU Works brand, which encompasses critical back office services for credit unions of all sizes.
Throughout 2016, CUSN said it conducted sweeping credit union research on pain points and shared services. The findings were crystal-clear: compliance was the top ranking area that credit unions needed assistance with. In fact, 99% of credit union CEOs surveyed said that compliance was a top critical issue for the next three-to-five years.
In early Q2 2017, COMPASS 4 CUs, based out of Virginia, joined the CUSN team. CU Works Compliance was thus formed, designed as an answer to what credit unions specifically asked for.
CUSN found that COMPASS’s client-centric culture and flexible services aligned strongly with their own vision of delivering a customizable and “on-call” style compliance solution – components that credit unions have been wanting for years.
“We all hope the regulatory compliance burdens will lessen on our credit unions, but we are not holding our breath,” said Doug Burke, President/CEO of CU Service Network. “Instead we are proud to introduce our new CU Works Compliance solution delivered through the acquisition of the COMPASS 4 CUs. The staff from COMPASS are extremely talented and are ready and willing to help our credit unions.”