The Tennessee Credit Union League has partnered with Des Moines, Iowa-based compliance firm PolicyWorks to help the Volunteer State's credit unions better cope with the growing complexity and frequency of financial industry regulations.
“The compliance burden facing our credit union members is not going away any time soon,” TCUL President Fred Robinson said. “We see an opportunity to relieve some of that burden by partnering with PolicyWorks and leveraging the breadth of experience on their team.”
Through this partnership, TCUL member credit unions will have access to compliance news and information and PolicyWorks' compliance hotline, which provides member credit unions with answers via email or phone to their questions on regulatory requirements, policies and general compliance inquiries.
In addition to the PolicyWorks' compliance hotline, Robinson said TCUL was drawn to the ready access of a wide variety of user-friendly tools for its member credit unions, including compliance training, monthly e-newsletters, FAQs and periodic compliance bulletins that address current issues facing credit unions.
Policy Works currently works with six different credit union trade groups to serve the compliance information and education needs to more than 600 credit unions, PolicyWorks CEO Justin Hupfer said.
“Partnering with leagues to provide best-in-class member compliance services is something we are passionate about,” Hupfer added. “We're excited for the opportunity to help Tennessee credit unions tackle today's compliance challenges.”
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