The $23 million, 2,800-member Connection Credit Union in Silverdale, Wash., said it recently used its knowledge management system to make an audit go easier.
Connection is a client of Seattle-based FuzeDigital, a provider of enterprise social business software that said the credit unin's use of the software for audit work was unique. Connection CU said it used the company's Fuze Suite to give examiners easy access to documents they needed and to communicate securely with them through the audit process.
The process eliminated the use of unencrypted e-mails, thumb drives, CDs and DVDs, Prior said, and eliminated hours of “running around time,” the credit union said.
Connection CU President/CEO Scott Prior said using the Fuze Suite during the exam process helped to set a positive and transparent tone for the audit. “Examiners are moving in that direction and it's much more efficient for them than a bunch of notebooks in the board room,” said Prior. “The easier you make their jobs, the more time they can focus on all the good things you do.”
Connection CU also uses the software to give board members access to materials online. The staff uses the knowledge base for internal information and plans to extend it to members during a website redesign planned this year.
FuzeDigital was founded in 2002 and the company said now includes credit unions, other financial institutions, AAA clubs, Careerbuilder.com and Oregon Health & Sciences University on its client list.
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