Credit union customer being served by teller

Credit Unions

Credit Unions

WebinarOct 05
Beyond compliance: Optimizing the Three Lines Model
WebinarOct 11
Construction audit: what we have learned since COVID-19

Credit unions must ensure they are providing the right experience for their members, while also addressing continued cybersecurity threats and infrastructure changes to ensure operational efficiency. Work with a team of experienced professionals who understand how credit unions need to balance member experience, operational efficiency and technology enhancements.

Case studies

Case Study

Team discusses client needs in an office

Three select credit unions improve personalization efforts with third-party data enhancement

Case Study

Two railroad tracks merge en route

Credit unions improve data accuracy with robotics process automation

Our solutions

We work with your management team, supervisory committee and board to bring you timely, relevant and effective ideas and solutions, as well as emerging trends to take your credit union to the next level.

Experience to help you achieve your outcomes

Benefit from professionals specialized by both industry and service, providing your organization with insight and guidance. Our team understands credit unions’ dedication to supporting their members’ financial journey.

We know this dedication impacts the decisions credit unions make in their systems, processes and strategies. We can help your organization apply your mission to your financial and organizational structures to achieve your desired outcomes.

Services

Grow your business

Member experience
Advanced analytics, forecasting and predictive modeling
Marketing and sales effectiveness
Merger, acquisition and transaction advisory
– Readiness: Accounting and tax considerations, earnings analysis, internal control and regulatory reviews and vendor management process evaluation
– Structuring and getting the deal done: Deal structure accounting and tax analysis, personnel quality and exit cost assessment, accounting and tax due diligence, technology risk/cybersecurity assessment
– Ongoing compliance and post-transaction considerations: Loan acquisition accounting, purchase accounting and deferred tax analysis, integration plan review and control environment analysis

Optimize resources

Project, program and change management
Internal audit outsourcing and co-sourcing
Corporate governance consulting
HR consulting and benefits administration
Robotic process automation (RPA)

Manage risk and compliance

Regulatory compliance:
– Bank Secrecy Act (BSA)/USA PATRIOT Act and Foreign Corrupt Practices Act (FCPA)
– Anti-Money Laundering
– Fair Lending and UDAAP
– Lending related regulations including TRID, RESPA, HMDA, Regulation Z, etc.
– Members shares related regulations
– Privacy/GLBA
– CFPB compliance
– Dodd Frank
– PCI (payment card industry) compliance
Comply with IRS requirements, including the filing of Forms 990 and 990-T
Information technology and cybersecurity internal audits, including internal and external penetration testing
Credit and operational risk consulting
Enterprise risk management (ERM)
Third-party data center reviews
Conduct FIN 48 analyses and unrelated business income analyses

Gain assurance

Financial statement audits
Accounting for the allowance for loan and lease losses (ALLL)
Employee benefit plan audits
Analysis and implementation of accounting pronouncements (e.g., CECL)
SSAE 18/SOC 1, SOC 2, SOC 3 and SOC for Cybersecurity reporting services
Cybersecurity policy and program development

Solution focus: Member experience

Gain insight for effective decisions from our team’s years of experience working with credit unions: we devote time to understanding the issues our credit union clients face, so your members benefit from solutions tailored to meet your organization’s unique needs.

Our services

Cybersecurity
Proactively protect and address your cybersecurity and information technology (IT) risks.
Data Solutions
Capturing, understanding and leveraging the data that matters most and bringing it into focus is no trivial matter. Rely on our experience to drive your business forward.
Forensic Accounting
When critical situations arise, organizations count on Baker Tilly to deliver accurate and reliable financial analysis to help forge a path forward.
Tax
Contributing to clients’ success by accelerating tax deductions, increasing tax credits, reducing cash taxes and mitigating risks
Transaction Advisory Services
Baker Tilly’s transaction advisory services team provides straightforward advice to clients on every critical business decision before, during and after a transaction.

Related industries

Banking & Capital Markets
Baker Tilly banking practice leaders collaborate with a wide range of financial services companies on financial statement, internal audit and advisory services.
Community Banks
Faced with changing regulatory requirements, intense technology disruption and an accelerated M&A environment, community banks need specialized financial and operational solutions tailored to their size.
Consumer Lending
Baker Tilly lending industry professionals collaborate with mortgage, student loan, automotive and other lending organizations to enhance analytics and process governance.
Financial Services
The financial services industry continues to diversify, but competition and more complex vendor relationships make determining business strategy more complicated.

Our professionals

William A. ChapmanPartner

John RuntePrincipal

View of a computer server room

E-book

Sustainable cybersecurity management e-book

Executive uses data analytics to improve his organization's performance

Webinar

CECL implementation: Virtual workshop on CECL methodology – vintage loss analysis

Watch the video

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Whitepaper

Banking industry benchmarks KPI report: 2019 quarter one