The Minnesota Credit Union Network has announced a partnership with PolicyAid to offer an online library of sample policies to help ensure compliance with current rules and regulations.
“The Minnesota Credit Union Network understands the compliance burden on credit unions today, which led to the development of this partnership with PolicyAid,” said John Ferstl, MnCUN vice president, Network Service Corp.
“Every year credit unions spend tens of thousands of dollars in time and resources as they work to maintain compliance with regulations. This affordable resource will help relieve some of that burden and enable credit unions to focus their attention on what they do best – serving their members,” Ferstl said.
PolicyAid was developed by compliance firm PolicyWorks, a subsidiary of the Iowa Credit Union League, and utilizes trained professionals to study regulations and review footnotes and fine print in order to offer credit unions a resource for developing compliant policies, MnCUN said.