Credit Union Resources CUSO AffirmXCU LLC acquires innovative compliance application ComplySight
PLANO, TX (September 20, 2019) — Credit Union Resources, Inc. has announced that AffirmXCU LLC, its affordable solutions CUSO, has acquired ComplySight, the innovative compliance application that provides user-friendly visibility, tracking, measuring, and reporting features to ensure your credit union remains in compliance.
“We are committed to adding more value to our membership offerings,” said Cornerstone Credit Union League President/CEO Caroline Willard. “With this purchase, two extremely strong and unique compliance management systems (ComplySight and AffirmX) will exist under the same ownership and keep pace with ever-changing technological demands. As a result, we are confident our member credit unions will have even more opportunities and offerings to assist with regulatory compliance and risk management.”
AffirmX is a fully integrated compliance ecosystem that helps users identify and mitigate risks in real time. Credit unions will benefit from an automated, scalable, and transparent Risk Intel Center that conveys and projects enterprise risk, while establishing a level of independence that regulators and auditors expect within risk management and compliance structures.
ComplySight is the single source for compliance and complaint management within a credit union’s risk management and compliance structure. Members will receive access to a state and federal alert system fed by local compliance experts, and enjoy custom reporting and information-gathering tools that allow them to better understand internal risks before they become audit findings.
“This is a win-win for credit unions,” said Credit Union Resources Executive Vice President and Chief Growth Officer Barbra Lowman. “Together, AffirmX and ComplySight provide a robust suite of distinctive benefits. One size does not fit all when it comes to credit union compliance needs, and we’re excited to bring choices to the table, better positioning Cornerstone as a trusted partner for credit unions of all sizes, demographics, and fields of membership. The technologies we’ve invested in strengthen the value of the consulting services we offer to credit unions.”
Existing ComplySight members should experience little to no disruption in service, as the quality professionals that credit unions have relied upon at ComplySight will remain. Cornerstone’s compliance team and staff attorneys will continue to answer compliance-related questions, and the support team at CU Solutions Group will still be available to answer technical questions.
Willard said ComplySight hasn’t experienced a change in its pricing structure since 2016, and no increase is planned for 2020.
Credit Union Resources, Inc., the wholly owned service corporation of Cornerstone Credit Union League, acquired AffirmXCU LLC in April of this year, along with Credit Union League of Connecticut, Indiana Credit Union League, Maryland and DC Credit Union Association, Mountain West Credit Union Association, and CU Solutions Group, a national CUSO majority owned by the Michigan Credit Union League.
About Cornerstone League
Cornerstone League is among the nation’s largest regional credit union trade associations, serving approximately 600 credit unions in Arkansas, Kansas, Missouri, Oklahoma, and Texas. Cornerstone exists to advance the success of credit unions in the region through legislative and grassroots advocacy; regulatory and compliance support; training, educational, and networking opportunities; essential communications related to news and information affecting the credit union industry; and other products and services that establish Cornerstone as the essential partner for credit unions. For more information, visit cornerstoneleague.coop.
About Credit Union Resources, Inc.
Credit Union Resources is a service corporation that provides industry-leading solutions and expertise to credit unions across the country. Credit Union Resources is a part of the Cornerstone Credit Union League, a regional trade association representing the interests of credit unions in Arkansas, Oklahoma, and Texas. For more information, please visit curesources.coop.
