United Bay Community Credit Union (“Ubay”) is a state-chartered credit union headquartered in Bay City, Michigan. They operate 6 branches throughout the state and control just over $280 million in assets.
Credit Union of the Rockies, a Golden, Colorado-based institution, has built a solid reputation among its growing membership. With 3 branches and just over $120 million in assets, they’re on the smaller side, which allows them to maintain a strong community and member focus.
USALLIANCE Financial is a $2.7 billion credit union headquartered near New York City. They have a large and diverse membership that spans the nation and operate branches in New York, New Jersey, Connecticut, and Massachusetts.
Crane Credit Union is a $1 billion credit union based in Indiana. Crane was experiencing consistent growth over time, but their audit team had remained the same size.
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The 2023 NCUA Supervisory Priorities
Each year, the NCUA sends out its list of supervisory priorities for the coming year. Credit unions preparing for their exams can reference the letter to focus on specific areas of concern.
2023 New Year’s Resolutions for Credit Union Auditors
Happy new year, credit union auditors! As 2022 fades in the rearview and we set our sights on what 2023 brings, it’s a good time to do what auditors do best:
Assess weaknesses, identify solutions, and plan for improvement.
Taking Part in Your Credit Union’s Next Audit? Read This.
If you are reading this, you may be new to the world of credit union audit processes. Audits are an essential part of the credit union’s operations and ensure that all internal controls are in place and functioning properly.
There are three basic types of audit software for credit unions: Basic, Enhanced, and Engaged. Read on to learn more about each kind—and which would be best for your credit union.
How to Measure Success when Implementing Auditing Solutions
Finding a solution to address credit union auditing inefficiency is difficult enough. Measuring success after actually implementing changes in the audit process is an additional challenge.
Specifically, it’s difficult to know how to measure the efficacy of the solution. How can auditors know that the impact is significant enough? What is the benchmark of success?
Get FREE Access to the Audit Checklist for Credit Unions!
