Here is where Oak Tree directs the majority of its resources and with good reason. Forms compliance is one area that could spell disaster if overlooked. When an auditor or regulatory agency fines your credit union for noncompliance, it could cripple the functionality and viability of your institution.
The core of the issue is consumer confidence. Regulatory agencies make sure the information you pass on to your members is accurate; since it could affect their financial life. No credit union sets out to provide inaccurate information. Yet, regulations change often, it can be hard to keep up. This is where Oak Tree's compliance support comes in.
Oak Tree's legal staff reviews all forms requiring state and/or federal compliance, and issues legal opinion letters for these forms. Maintaining your legal opinion letters on file at your credit union will ensure peace of mind in the event of a state or federal review or audit.
Periodic review of your forms for regulatory updates is just another feature offered by our Product Management Department.
Another new regulation in town? Let Oak Tree update your forms to support those changes and assure your continued compliance.
Covering all 50 states, Compliance 50! is the best compliance support for credit union forms and lending documents. Regulatory compliance is unique for each individual state. With Compliance 50! from Oak Tree Business Systems, Inc., your credit union forms, lending documents, and marketing services are handled.