news.cuna.org/articles/116887-game-changing-compliance-solution-coming-to-cus-nationwide

Game-changing compliance solution coming to CUs nationwide

November 7, 2019

CUNA announced CUNA Compliance Management System™ (CCMS) Thursday, a new membership benefit that will transform credit union compliance. The system will be available to all credit unions that are affiliated members of CUNA or their League.

CUNA will be testing the solution delivery with a limited number of diverse credit unions through the rest of 2019, with national availability coming in 2020. 

CCMS is a long-sought solution to credit unions’ compliance needs. It is a single platform for federal and state credit union regulatory compliance that is user-friendly, and CUNA is proud to offer this solution as a benefit of membership.

“CUNA Compliance Management System is here!” said Jim Nussle, president/CEO of CUNA. “With this compliance solution, credit unions of all sizes can confidently comply with every regulation and refocus their energy and resources on serving their members.”

CUNA Compliance Management System is a scalable, web-based solution built on technology from Quantivate, a software developer that specializes in governance, risk and compliance systems.

CUNA and Quantivate have committed to building a solution that fits the needs of any credit union, no matter their location, field of membership or asset size.

Credit unions can choose to add a fee-based version to the standard member benefit:

  • CUNA Compliance Management System ¬(CCMS) — is a member benefit level for CUNA and/or League member-affiliated credit unions with a focus on regulatory change management.
  • CUNA Compliance Management System PLUS™ (CCMS+) — is an enhanced, fee-based level with more robust workflow automation, risk management modeling, policy and document management and enhanced features for credit unions with more complex compliance needs.

The system brings together federal and state regulatory compliance content from subject-matter experts across the credit union movement. RISK Alerts, contributed by CUNA Mutual Group, add another layer of integration.

Additionally, Quantivate offers a suite of easy-to-use and scalable governance, risk and compliance modules that seamlessly integrate with CCMS and CCMS+.

“We were very involved in the design and selection of the right solution,” said Tony Diaz, chief compliance officer at SchoolsFirst FCU, an advisory credit union and beta tester for the development of CCMS. “We made sure to get it right for all credit unions. There’s enough there that all credit unions, no matter what their size, can certainly benefit from it.”

“I’m anticipating the day when every credit union in Tennessee will have access to CUNA Compliance Management System,” said Fred Robinson, president/CEO of Tennessee Credit Union League. “This solution solves so many compliance challenges for credit unions. Compliance operations will never be the same.”

“As emerging risks and compliance challenges continuously evolve, CUNA Mutual Group is focused on providing risk management solutions that help credit unions understand and mitigate those risks,” said Jay Isaacson, vice president, P&C Solutions, CUNA Mutual Group. “We are excited to assist credit unions and our system by incorporating related RISK Alerts into CCMS because we are a strong supporter of this solution.”

“We know how important it is to get the right compliance information to the right individuals at the right time, and we’re pleased to be working with CUNA to bring a technology solution to credit unions that will help them do just that,” said Andy Vanderhoff, CEO and founder of Quantivate. “It’s not an exaggeration to say this solution will revolutionize the industry.”

Learn more about CUNA Compliance Management System™ at cuna.org/ccms.