District Government Employees Federal Credit Union in Washington, D.C., and Whitefish Credit Union in Montana have begun collaboration with COMPASS 4 CUs on regulatory compliance support.
As part of its deal with DGEFCU, the credit union service organization will provide the $41 million-asset credit union with unlimited compliance support, including policy, procedure, and disclosure reviews. COMPASS will also review advertising, marketing and website materials for compliance and handle risk assessments and independent testing for compliance with the SAFE Act, ACH and Bank Secrecy Act.
With the $1.3 billion-asset Whitefish, COMPASS will handle marketing and advertising reviews and general compliance support. The choice to go with COMPASS was made in part by Whitefish's newly appointed vice president of marketing Eldon Tilley, who had worked with the organization before.
Altogether, COMPASS serves 26 clients, who hold $6.2 billion in member assets. The organization also works with state leagues, the Credit Union National Association and other organizations.
