CUSOs join forces to expand compliance services and core software systems to credit unions.
Comply-YES!, a Michigan Credit Union Service Organization (CUSO) that provides compliance audit, review, and support services to credit unions and other CUSOs, announces partnership with Alabama-based CUSO, CU*SOUTH which provides credit unions with core software system solutions and staffing support for accounting, collections, and IT functions. The collaboration aims to increase awareness of outsourcing compliance, core system management and other office functions to CUSOs and the benefits that it provides to organizations.
Comply-YES! launched in 2021 and has assisted 35 clients in 14 states with a wide range of compliance support including staff and director training, policy and procedure development, review and maintenance, Compliance Management System development, implementation and management, board and executive management oversight and reporting, marketing and website compliance, auditing and consulting services, helpline questions, and more.
Karl Borgquist, CEO of Comply-YES! noted that, “Uniting with CU*SOUTH enables us to offer a holistic service model that addresses two critical areas for credit unions: core systems management and regulatory compliance. We are thrilled to combine our strengths to deliver comprehensive solutions that credit unions need to excel in today’s competitive market.”
CU*SOUTH is a part of the cuasterisk.com network that has a community of over 362 credit union partners across 42 states, and as a 100% credit union-owned CUSO. CU*SOUTH was founded in July 2006, with a mission to grow credit unions. Our goal is to be the leading source of solutions that empower our credit union community to be heroes for their 2.8 million members by way of offering our all-in-one core software system, as well as staffing support for such areas as accounting, collections, and IT.
Solutions that are provided by CU*SOUTH such as e-signatures, online account opening, remote deposits and a mobile app, make banking easy and convenient for members. Lending automation tools help credit unions increase productivity, accuracy and efficiency through data analysis, cross selling opportunities and loan delinquency management. The CUSO also offers custom programming, software solutions and overall IT management services and support; and accounting services which help credit unions with back-office tasks such as balancing of debit and credit cards, ACH and share draft settlement, check and money order reconciliation, loan delinquency positing, investment processing, plus more.
“This collaboration is a testament to both organizations’ commitment to innovation, excellence and the cooperative spirit that defines the credit union movement,” said Bob West, CEO of CU*SOUTH. “Combining our advanced core system solutions with Comply-YES!’s exceptional compliance support empowers credit unions to focus more on what they do best—serving their members.”
CU*SOUTH is building a collaborative, peer-to-peer community of Credit Unions
through shared development of technology and service platforms. CU*SOUTH is headquartered on the Eastern Shore of Mobile Bay, with a nationwide network of CU experts.
