The consulting team is always available for phone calls and emails regarding a regulatory question about anything connected to credit unions. Almost every time, the consultant will not only give you the answer, but show you where you can find it for future reference. The group also keeps you aware of any changes that will be happening in the future.
The consulting team can review current policies for compliance and completeness. The group can also review credit union programs to see if there is a need for any new policies. The assistance is customized depending on how much depth the credit union wants the team to do.
The consulting team can teach or review all parts of lending in a one-on-one setting or in a group. Everything from filling out the application correctly, to processing it accurately, to making the best decision, and then closing it the correct way can be taught or reviewed. There is a "new loan officer" training class that includes not only the above, but also goes through the lending regulations. There is also fair lending training, loan review sessions, and product knowledge training. There is also cross-sell/sales training pertaining to lending that is also provided. This includes consumer loans, mortgages, and other unique lending products. The department also does regional seminars and an annual seminar.
Assistance varies from new collector training, daily process reviews, bankruptcy and repo training, along with all the regulations that have to be followed. A popular assistance request covers different styles of collecting and skip tracing. There are also meetings and a Basecamp group that works together throughout the year.
The department can facilitate or assist with the credit union's strategic planning session. Several variations are offered, depending on how much involvement you want to the League to have. The most popular program has a book for each participant filled with general and credit union-specific information. The League can lead the group during the planning session and report back to management afterward to finalize the strategic plans and action items, along with assisting in the development of objectives and goals.
Information is given out throughout the year on what the "hot buttons" are for both the NCUA and the DFI exams. The League also has up-to-date information on any new rules that NCUA, DFI, CFPB and other regulators issued throughout the year. The League meets with NCUA and DFI at least once during the year, which helps gain this knowledge. The League also assists and strategizes with credit unions to help resolve any examiner findings.
The department does help with the start up a new credit union or assist existing credit unions change/expand their existing field of membership.
The League offers two different programs to help with vendor management and due diligence. We offer a product through AffirmX to provide a detailed and structured view of vendors through questionnaires and interviews. This is then risk-based and reports are generated. The League can also perform a smaller version of this, prioritizing the vendors based on risk and importance to the credit union. The smaller version works with management to set up a program for the credit union to complete.
The League offers a vast number of opportunities that on nearly every function of the credit union. There are yearly seminars and webinars on lending, collections, operations, regulatory compliance, marketing, IRAs, IT, and many others. Current sessions are shown here. The League also partners with Credit Union Webinar Network to provide additional options for credit unions to consider. The webinar option allows the credit union to participate live, obtain a recording or both. In addition, the department conducts regional meetings, credit union on-site training and speaks at credit union chapter meetings.
Fin-Alysis is a tool for tracking and analyzing key financial trends. It pulls information from the credit union's financial statements and financial reports, laying them out in a spread sheet format that is easy to read and understand. More details about Fin-Alysis are here.
The consulting team reviews the policies, procedures, and actions regarding deposit accounts and services, transactions, and other operational areas. Several regulations are reviewed during this program. For example Truth-in-Savings, Privacy, Regulation CC and E.
The League can work with the credit union regarding business continuity and succession planning. The assistance can range from policy and procedure development, regulatory requirement training, along with developing a plan.
Record retention is one of the biggest topics the department assists credit unions with. The assistance includes answering questions, policy and procedure development, or providing resources to develop a record retention program (e.g., a retention schedule).
The League can assist by reviewing the website for major compliance errors and providing education and resources. For in depth website reviews the League teams up with AffirmX which provides even a deeper review of content including ADA compliance.