Compliance Decoded for Credit Unions is a podcast brought to you by Aux, a Credit Union Service Organization that provides back-office support for credit unions. The podcast aims to make compliance fun and interesting, offering short and informative episodes that can be easily consumed. Aux compliance team members featured in this episode have over 90 years of experience collectively. Compliance departments play a crucial role in freeing up management to focus on the credit union’s mission and goals. Good compliance ensures consistency in operations and member treatment, and helps credit unions avoid costly mistakes and reputational risks. Ultimately, we’ll aim to help credit unions unravel the complexities of existing and upcoming regulations.
Episode 1 Summary: In this episode of Compliance Decoded, the hosts discuss compliance horror stories experienced by credit unions. The first horror story involves a credit union that unknowingly sent out adverse action notices without reasons for denial for three years. Another story highlights the importance of communicating and updating processes, as a credit union mistakenly excluded business accounts from board of directors election ballots. The hosts also share examples of miscommunication between credit unions and their members, such as confusing account card instructions and misleading advertisements. They emphasize the need for collaboration, analyzing mistakes, and continuously evaluating policies and systems to avoid compliance nightmares.
Episode guests: Gaye DeCesare, Kristen Tatlock, Jason Clarke and Aaron Geller.
Learn how Aux makes compliance stress-free: https://auxteam.com/services/compliance
Episode Summary: Episode 2 of ‘Compliance Decoded’ delves deep into the unique world of compliance officers. Join us as three former in-house experts recount their most bizarre requests – from selling gold teeth found in forgotten safe deposit boxes to the audacious ask of completing a W-9 using the CEO’s personal SSN. Beyond the anecdotes, our panel navigates the grey areas in compliance, shedding light on addressing non-regulatory queries and providing invaluable resources to credit union teams. And as a cherry on top, Kyla presents our inaugural compliance forecast, spotlighting essential dates for credit union compliance for the year’s remainder, including Safe Act registrations, ACH audits, and the rollout of new privacy laws in select states. Tune in to stay ahead of the curve!
Episode guests: Kyla Dartez, Jamin Carlisle Jason Clarke and Aaron Geller.
Learn how Aux makes compliance stress-free: https://auxteam.com/services/compliance
Episode 1 Summary: Recently, a credit union CEO told us “I don’t have time to read all the details, please just tell me what I need to do!” That may sound flippant, but we get it! We’ve been on your side of the table, working in and for credit unions, so we understand the frustration. It’s especially frustrating when you read through all the details only to find that the new rule doesn’t apply to your credit union, or it’s not a final rule yet, or the compliance date is two years out and it’s already been challenged in court.
Episode guests: Gaye DeCesare, Kristen Tatlock, Jason Clarke and Aaron Geller.
Learn how Aux makes compliance stress-free: https://auxteam.com/services/compliance
