University

Compliance Case Study: AFL-CIO Employees FCU

October 26, 2020

AFL-CIO inner thumb

AFL-CIO Employees FCU is a $51M organization located in the heart of downtown Washington, D.C. With their membership encompassing a staggering 55 affiliated unions across the country, and one of several credit unions that has unionized employees, they exude an old-school credit union charm and grit. They are also one of Aux’s oldest compliance clients, having been a client of ours since 2011.

In this case study, we will (1) dive into the challenges faced by a small credit union in today’s market, and (2) show how having a team of compliance experts for a fraction of the cost of just one in-house compliance manager allows AFL-CIO Employees FCU to remain financially-efficient and sound in turbulent times.

“I think that this is where many smaller credit unions don't have the expertise, including my own: to help manage time. There is so much expected of us and it really hurts in the development of the institution. How do we overcome this?”

-Robert James, CEO of AFL-CIO Employees FCU

Areas of Focus Include:

1. Staying viable as a small credit union by embracing the “gig” economy and outsourcing
2. Utilizing turnkey, on-call experts who don’t require costly hiring, training, and benefits
3. Allowing your decision-making team to focus on strategic tasks rather than tedious compliance functions
4. Creating partnerships with your vendors, who act as an extension of your team

Please fill out the form below to download the study.