“Credit unions are facing an increasing array of compliance and regulation standard obligations.”
Tony Haren, CEO, How Good is your Governance
Obligations regarding credit union compliance can come from standard rules, regulations and other legislation. Managing compliance can create many challenges for staff and board members especially since they carry the responsibility if things go wrong. Not having a dedicated compliance professional in-house can also come with some additional challenges. This is because there is certain expertise missing from the mix that is needed to remain compliant and to keep on top of it. Even with a dedicated Compliance Officer working for your credit union it’s good to get a second opinion every now and then as rules and regulations are ever-changing and you don’t want to get caught out by this. This is why Soar offers monthly compliance services as well as one-off Compliance Health Checks to credit unions across the UK.
Here’s what your credit union would get through a Compliance Health Check with Soar carried out by our in-house Compliance Expert:
To discuss your compliance needs with us, please get in touch. Contact us, here.