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Issues Faced by Credit Unions

The role that community financial institutions play in the recovery and growth of the local economy has never been greater. The current trend of merger and acquisition activity and the cost of compliance are just two of the many challenges facing credit unions. You need a resource that has experience assisting institutions in the many phases of growth of their organizations and has the ability to grow with you.

Our Services to Credit Unions

We recognize the many things that make credit unions unique, including the Credit Union Philosophy, member ownership, investments, lending powers and practices, state and federal regulations, and Asset/Liability Management (ALM) issues. We offer services customized to the needs of your organization. At Wolf & Company, we analyze and research new accounting pronouncements, technology challenges and regulatory requirements to develop useful approaches and tools for use by our Credit Union clients.

Services include:

Financial statement audit

Employee benefit plan audits

Merger and acquisition due diligence

Member account verification

Technology audit & security

Regulatory compliance consulting

  • USA Patriot Act
  • Bank Secrecy Act
  • OFAC rules
  • Residential and consumer lending
  • Truth in savings
  • Internet reviews
  • Electronic Funds Transfer

Assistance with CUSO formation and tax return preparation

Unrelated business income tax return preparation for state chartered credit unions

Review of deferred compensation plans for credit union management