TMG Steps Up Compliance Services for Credit Union Clients
(Des Moines, Iowa – January 12, 2011) – For card-issuing financial institutions, ensuring compliance with changing regulations has become increasingly burdensome, particularly for smaller credit unions (CUs).
Without a compliance manager on staff, many of these CUs rely heavily on guidance from card processors like TMG. Execution of necessary program changes, however, has largely remained up to CU staff.
TMG plans to change that by partnering with PolicyWorks, a regulatory compliance firm that not only guides a credit union through the compliance process, but manages it as well.
“The compliance experts at PolicyWorks are at the top of their field,” said Jeff Russell, TMG executive vice president. “Pairing them with TMG clients will ensure that their credit, debit and prepaid portfolios are not only profitable and growing, but on point with the letter of the law.”
“We are excited about partnering with TMG to help their clients stay on top of the evolving compliance challenges impacting card programs,” said Justin Hupfer, CEO of PolicyWorks. “This is a very proactive measure by TMG for its clients.”
PolicyWorks, a regulatory compliance consulting firm owned by the Iowa Credit Union League, provides credit unions across the country with customized compliance solutions. With a team of experienced legal and financial services professionals, PolicyWorks provides training and guidance to help credit unions navigate and implement regulatory compliance changes.
TMG is a wholly-owned subsidiary of the Affiliates Management Company, which is owned by Iowa credit unions and their members. As a financial and credit union service organization (CUSO), TMG is dedicated to providing innovative and flexible card processing and payment solutions to credit unions and financial institutions across North America. TMG’s core products include credit, debit, ATM and a variety of prepaid solutions, as well as online reporting, ACH and ALM services. TMG’s prepaid card products are branded ATIRA. For more information, visit www.TheMembersGroup.com.
PolicyWorks is an Iowa-based firm known for providing solutions to credit unions’ regulatory compliance needs. PolicyWorks has the resources, vision and experience necessary to help clients resolve their most challenging compliance issues. For more, visit www.PolicyWorksLLC.com.