ST. PAUL, Minn. (5/14/12)--The Minnesota Credit Union Network (MnCUN) has launched a compliance services program for its member credit unions.
Minnesota credit unions can contract for a MnCUN staff member to help them fulfill their compliance obligations.
The program offers credit unions two outsourcing options. The first allows credit unions to contract for ongoing assistance to manage their internal compliance programs. Through this option, MnCUN's compliance professional works on-site at the credit union for a specific number of hours each month.
The second option focuses on providing credit unions assistance in completing specific compliance tasks. Credit unions can either contract with a compliance professional for a one-time request, or they can arrange for the professional to complete compliance projects quarterly.
MnCUN has hired Marcia Lewis to fill a newly created compliance and audit consultant position. Lewis has 25 years of financial institution experience. Her areas of expertise include risk management, internal auditing, training, compliance and operations.
Lewis has been a certified compliance officer since 1997, and has been designated as a Certified Financial Services Auditor since 1998.
Among the compliance areas MnCUN is offering services:
- Bank Secrecy Act;
- Home Mortgage Disclosure Act;
- Consumer lending;
- Real Estate Settlement Procedures Act
- Real estate lending;
- Fair and Accurate Credit Transactions Act;
- Credit/debit card administration;
- Accounts payable/expense reports;
- Collection queues;
- Vendor management;
- Overdraft protection; and
- Compliance training.