Credit Union Services
Financial Controls, Inc. provides quality and superior services, support, and solutions for small credit unions:
- Supervisory Committee agreed-upon procedures engagements ("required annual audit"). Click here for more information.
- ACH audits (required by NACHA per ACH Rules, Appendix 8). Click here for more information.
- Bank Secrecy Act review, including customer/member identification program (CIP) & anti-money laundering program (AML).
(per NCUA Letters to Credit Unions, including 05-CU-16, 05-CU-09, 03-CU-16, & other regulatory pronouncements). Click
here for more information.
- OFAC compliance review (per NCUA Letter to Credit Unions 01-CU-25). Click here for more information.
- Risk based loan pricing service & review. See Welcome page for more information.
- Customized periodic Supervisory Committee procedures (required of the Supervisory Committee per NCUA Supervisory
Committee Guide for FCUs 1999). Click here for more information.
- Member account verifications (maintain independence of process from employees)
- Information system & technology reviews (compliance, controls, procedures, risk assessment, security)
- E Commerce reviews & risk assessments (compliance, controls, procedures, risk assessment, security
- Internal control reviews (plans, policies, procedures) - outsourcing of the internal audit function.
- Loan reviews (classification, policy compliance)
- FHLB collateral verifications (required every two years for member financial institutions)
- Policies & procedures reviews (adequacy, completeness, compliance)
- Compliance audits (specific areas of concern, e.g. disclosures, mortgage loans, TIL, TIS, Reg Z, etc.)
- Management change/transition audits (specific areas of concerns upon change in top management)
- Fraud, embezzlement, & bond claim investigations (losses or questionable transactions of employees or officials)
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