Northwest Credit Unions to Get an Early Look at New ComplySight Compliance Solution
March 18, 2014
March 18, 2014
Following the rules is about to get a whole lot easier.
ComplySight, a comprehensive compliance solution designed by credit union leaders to meet credit unions’ needs, will make its debut on Wednesday, April 2 — and Northwest credit unions will be among the first in the country to give it a spin.
“With the ever-increasing compliance burden that credit unions are facing, you may feel that you’re being overwhelmed,” says David Curtis, the Northwest Credit Union Association’s director of compliance. “We are thrilled to be one of the first four leagues in the country to offer this path through the mountain of regulations and rule changes you face.”
ComplySight, which was developed by CU Solutions Group for League InfoSight, provides tools for tracking, measuring and reporting compliance activities in a single application that integrates seamlessly with other League InfoSight products, including InfoSight and CU Policy Pro. Using ComplySight, credit unions will be able to:
- Review regulations and laws from once central site to assess their level of compliance;
- Manage regulatory requirements and the associated internal organizational communications essential to ensure compliance;
- Assign and track activities needed to achieve or maintain compliance; and
- Interactively receive and respond to regulatory alerts and updates.
“The changing business needs in our industry creates a demand for products that allow credit unions to adopt technology seamlessly into their organization, creating operational efficiencies at many levels,” says David Adams, CEO of CU Solutions Group. “Our team and base of technology products are uniquely positioned to deliver solutions that address the regulatory challenges that every credit union faces.”
Curtis says ComplySight’s easy-to-understand guidance and communication and tracking tools make it easy for a credit union to determine its compliance status. The program’s robust reporting features, overviews and in-depth information are also a plus, he says.
“ComplySight is easily customizable, which means individual credit unions can tailor it to their own specific products and services,” Curtis says. “And a grading tool makes it easy to measure compliance levels and keep credit unions in a continual state of readiness for audits and examinations.”
ComplySight will roll out across the country in June, but four leagues are getting a head start in April. In addition to the NWCUA, the program will debut at the Michigan Credit Union League, the Iowa Credit Union League and the League of Southeastern Credit Unions.
Pricing will be based on asset size, CU Solutions Group says — $500 a year for credit unions with less than $50 million in assets; $1,500 a year for assets between $50 million and $250 million; and $3,000 a year for assets of more than $250 million — and getting started is easy. Curtis says a credit union can be up and running with ComplySight in less than two weeks
“Join us for any one of our three informational webinars, where we’ll demonstrate the value of ComplySight for your credit union’s compliance program,” Curtis says. The free, one-hour webinars are scheduled for:
- Wednesday, March 26, at 10 a.m.: To register, go here.
- Thursday, March 27, at 2 p.m.: To register, go here.
- Friday, March 28, at 1 p.m.: To register, go here.
“Credit unions that were part of the pilot program for ComplySight say that it was easy to use with minimal training,” Curtis says, “ and they liked the fact that it provided a one-stop shop for all things compliance. We think Northwest credit unions will be similarly impressed, and we can’t wait to help them get started.”
For more information on ComplySight, contact David Curtis at 206.340.4785 or firstname.lastname@example.org.
Questions on this story? Contact Gary M. Stein: 503.350.2216, email@example.com.
Posted in Compliance.