Compare CU CMS and CU CMS+
Let's start here: CU CMS is a no-additional-cost benefit of your CUNA or League membership and provides updates to regulatory changes. CU CMS+ is a complete and centralized regulatory compliance management system that can be scaled to meet the unique needs and pain points of your credit union—it's your day-to-day compliance management solution.
- CU CMS (the member-benefit version) offers a quick set-up so you can get started right away. It can even be used in conjunction with other existing systems.
- CU CMS+ begins with a full evaluation of your compliance management requirements, as our compliance experts help you architect a complete system tailored to your organization.
- Both versions are entirely web-based, with no software to install.
- Both are highly secure, fast, modern and continually updated.
The chart below offers a side-by-side comparison of the two versions.
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Compliance Management System Plus
Need a customized, comprehensive system?
CU CMS+ brings remarkable capabilities in customization and function, crafted just for your organization. Contact us to learn more about CU CMS+ features, pricing and timelines.
CU CMS and CU CMS+ Product Features & Comparison Chart
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Actual cost tracking
Keep critical budget and advocacy information at your fingertips. This feature tracks hours worked on a regulatory change, allowing you to have full insight into the actual cost of compliance in resources and labor dollars.
Advertising compliance review
Make advertising compliance a breeze. This feature provides step-by-step guidance for your marketing team. The system determines which regulations are applicable to the product being advertised, providing regulatory evidence and confidence your advertisement is compliant.
Basic risk assessment
Understand the potential impacts of a compliance requirement. This feature provides a simple and consistent way to measure the risk of non-compliance, allowing you to fully understand and document any potential issues.
Business impact analysis
Know exactly how compliance changes will impact your credit union. This feature allows you to analyze, document and report on how a compliance change will roll through your organization - which areas it will affect and who needs to be aware of the change. These analyses are great tools for setting expectations within your credit union to help you mitigate resistance to change.
Central document repository
Keep all your compliance efforts in one place. This feature provides a single location for all documentation, allowing you to find compliance evidence quickly.
CUNA Mutual Group RISK Alerts
Stay on top of emerging or prevalent risks and scams within the industry. Each alert provides risk details, suggested mitigation steps and links to related resources. These are issued on an as-needed basis as a warning (just-in-time risk); watch (risk conditions are right); or awareness.
Enjoy real-time compliance status summaries and easy drill-down access to the various components of the program. This feature allows you to quickly see what’s happening and helps you maintain focus on your priorities.
Federal and state compliance alerts and action items
Never miss a regulatory change and always know exactly what actions need to be taken. This feature sends real-time alerts to your dashboard, letting you know about regulatory changes. It also provides a list of actions that are required to achieve compliance, saving you time and effort on independent research.
Federal and state law libraries
Save time with two important and frequently-used resources right at your fingertips. This feature offers quick access with live links and citations right in the program to these critical resources.
Policy and process mapping
Link together all the relevant components of your credit union’s operating environment affected by a regulation. The feature integrates all compliance efforts including impacted policies, processes, required training and risk assessments back to the regulation itself. When an examiner wants to see proof of compliance, one click brings it all into focus, creating a crystal clear picture of your compliance status.
Pre-loaded action items
Know exactly what to do next without hours of tedious research. This feature provides a jumping-off point for the operational action steps necessary to address and verify adherence to compliance requirements.
Regulatory change workflow
Make the complicated easy. This robust feature allows you to manage a regulation change as well as any compliance requirement in a single, easy-to-use, guided process. The Workflow feature provides accuracy, consistency, efficiency and faster answers.
Quickly and easily provide leadership, staff and auditors with information about compliance activities. This feature provides more than 25 pre-built reports for compliance changes and task management, ensuring the information you need to provide is easy-to-access, timely and accurate. One-click reporting also provides compliance officers aggregated intel across all regulations, such as “all regulations requiring staff training.”
Ensure critical compliance issues are accurately addressed on time while eliminating common compliance silos within your organization. This feature allows you to assign and track tasks-such as a compliance issue review or change approval-to various stakeholders within your organization. There’s even an escalation function built in to monitor task completion, flag a compliance dependency and drive accountability within your credit union.
Additional Features Available in CU CMS+
CU CMS+: Advanced report writer
Create new or modify existing reports to keep all levels of your credit union informed. This feature provides another way to customize CU CMS+ to your exact needs. Have the status of your compliance efforts at the ready, the way you want to see them, every day.
CU CMS+: Advanced risk assessment and control mapping
Take a deep dive into risk assessment and management. This feature allows you to review all major risk categories and drill down into specific risks to better evaluate your credit union’s exposure levels. . You can also document risk decisions, monitor the effectiveness of controls, create reporting for a clear view of risks beyond compliance and more. This has been described by beta testers as one of the most robust planning features in the program.
CU CMS+: Approval management
Formalize (or standardize) your approval process and ensure that policy changes or compliance plans have been seen, reviewed and approved by stakeholders. This feature allows you to request and track reviews and approvals for compliance plans, policies, documents and more. Once in the system, these tasks and the activity associated with them will be retained for future reference.
CU CMS+: Compliance management workflow with CU-specific compliance changes
Customize your system to your organization. This feature provides the framework or methods for compliance management while allowing you to tailor the process to your organization’s specific operating environment
CU CMS+: Additional compliance reviews
Streamline other specific compliance reviews, just like the advertisement review available in CU CMS. This feature transforms compliance reviews required by your organization into a guided workflow process with regulatory requirements built in. Answering those difficult record retention questions, performing a website audit, or conducting an annual BSA compliance review are just a few ways you can use this intuitive tool. Additional capabilities will be added over time.
CU CMS+: Credit union-specific action items
Create and install action items specific to your organization. This feature allows you to customize compliance action items that are relevant to your credit union’s products and operations. Once installed, your action items will work within the system exactly like the pre-loaded action items.
CU CMS+: Custom dashboard
Personalize your dashboard to display the information most relevant to you. This feature provides even more efficiency by allowing you to focus on the elements of compliance that are most important to you and your credit union.
CU CMS+: Expected vs. actual cost analysis
Plan expenditures and track spending against estimates. This feature increases your resource planning accuracy and allows for robust budgeting, reducing the risk against your bottom line. It can be used for regulatory changes as well as for events such as core conversion or new products.
CU CMS+: Law and regulation testing templates
Be prepared for your next audit or exam. This feature delivers exam prep and trial runs so you’re ready for exams and conversations. Built from AIRES exam questionnaires, you’ll always be up-to-date.
CU CMS+: Policy and document management
Gain control of information like never before and the peace of mind that comes with it. This feature is packed with tools for managing information-from document versioning to life-cycle management to acknowledgment tracking on policies and much, much more-providing you with unprecedented accuracy and efficiency all in one centralized system. Save time, achieve better collaboration, and make tracking for auditors and exams easier than ever.
CU CMS+: Compliance training management
Ensure your staff stays current on compliance and regulatory topics. Create testing elements in the system, confirm that critical training has been completed, guarantee that compliance staff meet examiners requirements and more.