Credit Union Audit and Compliance Group (CUACG) was thrilled to celebrate a successful 2021 and looks forward to an even more productive 2022. CUACG was ranked in the top 20 audit firms in the country based on several clients in 2021, according to a study done by Callahan & Associates. Callahan & Associates calculates their Top Audit Firms list by comparing total credit union clients with more than $40 million in assets. In addition to leading other notable auditing companies, CUACG has successfully increased its revenue by more than 50% since 2014.
While the pandemic forced many businesses to alter their operations or shut down entirely, CUACG was able to continue providing clients with a remote auditing platform. CUACG can perform most services virtually, which has proven to be effective and beneficial for both credit unions and team members throughout the pandemic. Unlike other auditing companies, CUACG has been successfully completing remote audits since well before the pandemic, allowing the team to further enhance their skills and knowledge. This has relieved some of the uncertainty that the pandemic has caused. CUACG members know they have a reliable and dedicated team backing them, regardless of the circumstances.
CUACG is the largest credit union auditing firm in the Southeast. CUACG’s team of auditors is comprised of credit union experts that help credit unions succeed. CUACG serves only credit unions and is solely focused on providing value to its clients.
CUVM, the vendor management solution for LEVERAGE, is proud to partner with Sheriff Central to deliver a comprehensive contract, vendor, and grant management tool for law enforcement offices across the nation. CUVM’s cloud-based software solution will allow sheriff's offices to manage their business operations like never before.
CUVM has been providing simple solutions in vendor management for credit unions for more than 14 years. This new partnership allows CUVM to use its software to assist sheriff’s offices and municipalities across the country. CUVM streamlines the entire contract process, saves businesses time and money, and centralizes storage and retrieval of contracts. The CUVM team offers personalized service with dedicated analysts and support staff, ensures all contracts are compliance-friendly, and meets Criminal Justice Information Services (CJIS) requirements.
For sheriff’s offices looking to enhance their vendor management tools, CUVM offers many benefits. Limited reviews are provided for specific vendors that address levels of risk outlined by CJIS. The CUVM software is available 24/7 and allows unlimited contracts and gives employees the ability to upload and store all vendor documents in a secure location, while also keeping a running history of all contracts and documents.
By utilizing CUVM’s services, sheriff’s offices can step away from the desk and spend their days meeting with citizens, investigating crimes, and preventing crimes. CUVM and Sheriff Central are dedicated to supporting the Office of Sheriff.
From debit cards to tap-and-go to digital cards, the payments industry is constantly evolving. That’s why LEVERAGE Payment Solutions (LPS) will be hosting payments workshops for credit unions and financial institutions regularly. The interactive workshop is designed for people who are new to the industry, as well as those looking to improve in their current position. The goal of these workshops is to show how payments processing is the best path to member engagement.
During the first payments workshop held in March, professionals were able to hear from the featured speaker, Sundeep Kapur, an educator and the founder of Digital Credence. After 25 years in corporate America, Kapur returned to his passion as a business and technology consultant. Kapur’s goal is to help brands define their OMNI-Channel strategies. His research focuses on seven critical elements for a financial institution to be successful in 2022:
The March payments workshop was a success for the LPS team. From courses and training to cases studies and open discussions, attendees learned a lot about the current and future states of the payments industry. There were stories of how the young, the old, the impatient, and the restless all deal with money today. The workshop also talked about current market drivers, top payment trends, and innovations that will move the market.
Innovation, employee experience, and evolving consumer preferences are changing the financial services landscape. This includes the way financial products and services are delivered. Many credit unions are exploring ways to address the changing landscape, to increase efficiencies, grow their reach, and improve competitiveness. No matter what your organization’s approach is, there’s a new level of scrutiny that you need to apply.
Clearly, you must be sure that you’re not doing something that introduces too much risk that could put your long-term viability in jeopardy. However, it doesn’t mean you shouldn’t pursue opportunities. Risk management shouldn’t be the department that says no, but rather the function that enables successful execution with the emerging risk universe in mind.
While each credit union has its own unique risk footprint, this Emerging Risks Outlook highlights risks and loss trends that most likely should have your eye on. The Emerging Risks Outlook series provides credit unions with:
Remember, when risk management is effective, typically nothing bad happens. But, if you’re blindsided by a problem, your reputation often takes the hit. Don’t let not knowing which emerging risks are around the corner take the blame.
To discuss how to identify risk, mitigate losses, and receive insightful resources and tested practices, ask a Risk Consultant or call 800.637.2676.
For other CUNA Mutual Group products and services, contact a LEVERAGE Business Development Consultant at firstname.lastname@example.org or 955-9EXPERT (855-939-7378).
LendKey provides credit unions access to high-quality consumer loans to help deploy capital and diversify their balance sheets through a variety of assets, including home improvement loan participations.
LendKey, one of LEVERAGE’s preferred partners, offers a nationwide home improvement program that works with contractors to provide financing to creditworthy homeowners. Credit unions can deploy capital and mitigate risk by purchasing recurring loan participations at a 10% equity stake, with a target net return over 3.00% on a weighted average life of 4.5 years.
LendKey has over ten years of experience facilitating these types of loan participations and has driven over $4 billion in total participation volume to credit unions.
To learn more about how LendKey can help your credit union deploy capital in 2022, email email@example.com or call 855-9EXPERT (855-939-7378).