CU*Answers, the West Michigan-based CUSO, announced that its PolicySwap website added earlier in 2012 was still going strong. The site, located at http://policyswap.cuanswers.com, was created with the goal of helping CU*Answers clients reduce each institution’s compliance cost burden. Every policy and procedure shared is reviewed by Audit Link, a part of the CU*Answers Management Services team, so that credit unions know they can be trusted. Since its inception, CU*Answers has opened up registration to all credit unions, allowing those outside of the CU*Answers network to participate!
Randy Karnes, CEO of CU*Answers said, “Credit unions today are subjected to a bewildering number of policies and regulations. PolicySwap is a website for credit unions to collaborate with each other to help simplify the compliance process.” CU*Answers also stated that over 130 policies had been shared on the site to date, and the CUSO is pushing credit unions to continue to add to the pool.