The $172 million Ashland CU in Ashland, Ky., and $189 millionArlington Community FCU in Arlington, Va., have contracted withCOMPASS 4 CUS LLC for compliance help.
|Included will be Bank Secrecy Act reviews, policy and procedurereviews, website audits, training, and unlimited general compliancesupport, the CUSO said.
|“The COMPASS model will allow Ashland CU to gain a broader level of expertise while reducingits overall compliance cost,” said that credit union's president,Larry Lucas.
|“Our job is to understand each individual operation and helpthem integrate regulatory compliance into every process. Weessentially serve as an external compliance officer,” said GayeDeCesare, president/CEO of COMPASS4 CUs.
|The Washington, D.C.-based CUSO now serves more than a dozencredit unions and is wholly owned by the $277 million Belvoir FCUin Woodbridge, Va.
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