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Reg environment steering CUs to PolicyWorks
DES MOINES, Iowa (5/20/11)--PolicyWorks, a compliance solution provider for credit unions, said a difficult regulatory environment was the driver behind the firm’s first quarter increase in new clients. “Credit unions of all sizes are facing various challenges as it relates to compliance,” said Justin Hupfer, CEO of PolicyWorks. “The regulatory environment is complex and our goal is to make it much simpler for credit unions to deal with.” “This is the second year we’ve had PolicyWorks conduct a compliance audit for us and it continues to be very valuable,” said Kimm Proctor, regulatory compliance manager, ESL FCU, Rochester, N.Y. “Their expertise helps us identify and address any gaps we may have to ensure our compliance programs function at the highest level.” In addition to compliance audits, PolicyWorks’ other products include website audits, training, Bank Secrecy Act audits and 24/7 federal compliance support. “What we are seeing is a desire from credit unions to have an expert they can turn to for compliance assistance,” said Andrea Stritzke, vice president of regulatory compliance for PolicyWorks. “We have the legal, examiner and operational experience on our team that allows us to ease the compliance burden, so credit unions can focus on what they do best--serving their members.” PolicyWorks is a subsidiary of the Iowa Credit Union League.

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