New Compliance CUSO Signs on First CU Client
CU Rx, a newly launched risk management and compliance service credit union service organization, has signed on Ohio Healthcare Federal Credit Union.
The $45 million credit union in the Columbus suburb of Dublin signed on for 100 hours consulting services as part of CU Rx’s risk management and compliance retainer program.
The service aims to assist in scrutinizing existing and new regulations to determine regulatory requirements and the compliance approach which best suits the credit union and its operations.
Ohio Healthcare President/CEO Bill Butler sought out CU Rx because of the CUSO’s experience with the UltraData core processing system, said Bryanna Tapley, CU Rx vice president of sales and service. UltraData is used by the CUSO’s parent company, the $339 million CP Federal Credit Union in Jackson, Mich.
CU Rx was formed through CP Financial Services LLC, an affiliate of CP FCU. The CUSO offers review and audit services for credit union risk management, fraud, compliance, and regulatory best practices.