Press
Sollievo CUSO to help credit unions improve and manage risk position
MIDDLETOWN, PA (February 18, 2014) – At a time when regulations continue to increase, credit unions need relief. In the recent January 2014 NCUA letter, it stated that the “NCUA will be working to ensure that credit unions identify and mitigate forward-looking risks.” Over the past several months Mid-Atlantic Corporate Federal Credit Union has been preparing and developing programs to assist the credit union movement with these ever-increasing challenges.
Mid-Atlantic Corporate is pleased to announce the launch of their CUSO, Sollievo, (pronunciation: solˈljɛvo) to offer a comprehensive collection of risk-management products and services to credit unions nationwide.
“Sollievo is an Italian word that means relief,” said Lori Gall, president/CEO of the CUSO. “We hear from credit unions everyday about their struggle to keep up with regulatory demands. Our mission is to provide peace of mind and help them meet compliance obligations and improve the overall risk posture of their credit union.”
Gall will lead Sollievo with a team of individuals who possess nearly 90 years of combined credit union experience, as well important industry certifications such as certified information security professional, enterprise risk management expert and business continuity professional.
“Lori and her team have the skill and knowledge to help guide credit unions through a difficult and ever-changing landscape,” said Jay Murray, president/CEO of Mid-Atlantic Corporate Federal Credit Union.
“Our plan is to offer comprehensive risk management services that credit unions can afford,” said Gall. ”Sollievo is geared to help credit unions with their most complex issues.”
Sollievo will offer a complete array of affordable risk management products and services. Services include:
Enterprise Risk Management
Managing risk is an essential component of a credit union’s operations. Sollievo ERM solutions, which provide enterprise risk monitoring, vendor management, and audit and exam findings manager, and an allowance, loan, lease, loss module are designed to assist credit unions with this process.
Information Security Services
Credit unions are entrusted with their members’ sensitive information. Criminals recognize this, which is why financial institutions are often the targets of criminal attacks. Sollievo can help credit unions protect this sensitive data with information security risk assessments, incident response planning and network security services.
Business Continuity
With more than 10 years of experience conducting disaster recovery testing and business continuity planning in the credit union movement, Sollievo’s certified staff can help ensure credit unions have a strong business continuity plan in place so that they are prepared for the worst.
Training and Consulting Services
The Sollievo team’s knowledge and experience on topics like ACH risk assessments, risk mitigation, project management, policy and procedure assistance, and much more are available through Sollievo’s training and consulting services.
Gall brings 27 years of credit union experience to her position as Sollievo’s president/ CEO. She is a nationally recognized credit union executive who has held various leadership and volunteer positions within the credit union movement. Gall will continue in her roles as senior vice president, administration; compliance officer; and security officer for Mid-Atlantic Corporate Federal Credit Union.
To learn more, visit www.sollievo.com or call (855) 605-5664.
About Mid-Atlantic Corporate Federal Credit Union
Mid-Atlantic Corporate Federal Credit Union and its members have been well-served by a conservative financial management approach. It is a federally chartered corporate credit union that serves CUSOs, leagues, chapters, and more than 800 credit unions. Mid-Atlantic Corporate and its family of companies provide quality investment, lending and payment services, including ACH, share draft and electronic bill payment. Mid-Atlantic Corporate develops services with our member in mind, and delivers them with the kind of accountability, consideration and responsiveness our members expect – and deserve. For more information, visit www.midatlanticcorp.org.