Press
PolicyWorks’ ComplyRight to Make Regulatory Compliance Easier for Credit Unions
DES MOINES, IA (April 1, 2013) – Regulatory compliance firm PolicyWorks today announced the availability of ComplyRight, a full-service, comprehensive compliance solution for credit unions. In partnership with PolicyWorks, sister company The Members Group (TMG) will offer ComplyRight to its credit union clients at a significantly reduced price.
From online resources to individual consultation with experienced compliance professionals, ComplyRight will help credit unions:
- achieve efficiency in their compliance efforts
- reduce compliance expenses
- identify – and resolve – compliance issues
- stay current on new and amended regulations
“ComplyRight takes various credit union compliance resources and solutions and offers them in the form of three different packages so credit unions may easily select the one that suits their ongoing needs,” said Andrea Stritzke, PolicyWorks vice president of regulatory compliance. “ComplyRight will help credit unions become more proactive with a compliance strategy and provide them peace of mind knowing that regulatory matters are being taken care of.”
ComplyRight’s Basic, Executive and Deluxe packages give credit union teams different solutions based on their unique needs.
Designed to meet a credit union’s minimum compliance needs, ComplyRight Basic offers ongoing reviews of any advertising or marketing materials seen by the public, as well as access to PolicyAid, PolicyWorks’ proprietary online library with more than 70 customizable policy templates. The package also provides a series of hot-topic webinars covering new or amended regulations and an electronic newsletter compiling recent regulatory news and activity by the CFPB, NCUA and other agencies impacting credit unions.
The ComplyRight Executive package provides clients all of the perks of the Basic package plus unlimited phone and email access to the PolicyWorks compliance team. Clients use this service for assistance with federal compliance questions, review of new products or new ideas for compliance implications and strategic analyses on the impact of impending regulatory changes. This package also provides an annual website compliance review and an annual compliance risk assessment, which is a high-level review of the credit union’s major regulatory areas and compliance program structure.
ComplyRight Deluxe gives credit union clients all the benefits of the Basic and Executive packages, plus a Bank Secrecy Act independent test and a full-scale compliance review, which assesses all elements of compliance within a credit union’s operations.
“Our clients are consistently looking to innovate, yet compliance is – rightfully – top of the to-do list before they can move forward with their new products and new ideas,” said Sara Petty, TMG senior vice president of client development. “As a trusted advisor to our credit union clients, we are excited to bring ComplyRight to the table as an affordable solution. With these packaged services, we know our clients will be in a terrific position to continue focusing on building value for members without compliance implications weighing them down.”
Stritzke added delivery of ComplyRight to TMG clients is an extension of a years-long relationship: “TMG and PolicyWorks have been working together since 2007 to provide credit unions with regulatory compliance solutions. Importantly, the two companies collaborated to help credit union clients navigate the complex regulatory requirements of both the Durbin Amendment and the Credit CARD Act. ComplyRight brings this valuable partnership to the next level by offering credit union clients the best in payment solutions and compliance services.”
About PolicyWorks
PolicyWorks is a national leader in credit union compliance solutions, providing services to nearly 600 credit unions. PolicyWorks has the resources, vision and experience necessary to help clients resolve their most challenging compliance issues. For more information, visit www.PolicyWorksLLC.com.
About TMG
The Members Group (TMG) is dedicated to creating customized, technology-driven card processing and payment solutions for credit unions and community-based financial institutions across North America. Innovations in fraud management, loyalty programs, alternative payment systems and analytic reporting, and the competitive advantages they create, have helped TMG forge a new standard in offering cutting-edge credit, debit, ATM, prepaid card products and a P2P payment solution. For more information, visit www.themembersgroup.com.