Salary and benefits continue to be a significant operational cost to credit unions. At a time when most are taking a hard look at increasing operational efficiencies, an alternative to hiring additional compliance staff should be top-of-mind.
In this case study, you will learn how $654M Christian Community Credit Union benefited from outsourcing one of their vacant compliance positions.
1. Outsourcing parts of your compliance can have significantly lower costs than hiring an FTE.
2. You can reallocate the costs saved on salary and benefits to improve other areas of your credit union.
3. A team of outsourced compliance experts can provide a wider spectrum of knowledge and interpretation than one single specialist can.
4. Compliance doesn’t have to be a core competency – it can be outsourced like any other skilled service.
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