LIVONIA, Mich. (November 8, 2019) — Today, an alliance of credit union leagues and league service corporations spanning 27 states announced the release of CU Risk Intelligence (CURI) — a dynamic and scalable risk management platform built to support the governance, risk and compliance (GRC) needs of credit unions. Its core solutions, AffirmX and ComplySight are used by more than 300 credit unions nationwide.
Announced April 18, 2019, the consortium of credit union leagues and credit union service organizations — including the Mountain West Credit Union Association, Maryland & DC Credit Union Association, Indiana Credit Union League, Credit Union League of Connecticut, CU Resources (Cornerstone Credit Union League’s service corporation) and CU Solutions Group — announced the joint acquisition of credit union sector rights to AffirmX's patented risk management and compliance technology. As part of the agreement, the Maryland-based AffirmX continued to provide servicing on all products and retained a minority share of the newly formed CUSO.
On August 29, 2019, the group announced the acquisition of ComplySight - a "do it yourself" software solution that provides visibility, tracking and measurement of credit union compliance activities - from League InfoSight. As part of that transaction, League InfoSight became an investor in the new CURI company.
Combining the knowledge and expertise of AffirmX, League InfoSight and CU Solutions Group, CU Risk Intelligence was built to deliver affordable risk management and compliance solutions to credit unions of all sizes. They help to prioritize risk management tasks, remediation and reporting. The applications strengthen a credit union’s overall readiness for audits and providing regulatory updates essential to maintaining credit union compliance.
CU Solutions Group President/CEO Dave Adams called CU Risk Intelligence a suite of unique, credit union–centric GRC and compliance solutions owned by and partnered with state leagues. "This new company has two anchor products that have been validated by more than 300 credit union subscription agreements and a high level of retention. State leagues have always been at the core of funding, building and supporting these products, and that will continue into the future."
The fee-based governance, risk and compliance tools will complement and align with the existing League InfoSight products, which provides affiliated credit unions with state and federal content and resources for regulatory advocacy and compliance.
"Credit unions expect free resources from their state associations to help with regulatory advocacy and information - League InfoSight continues to be a leader in enabling excellence in those areas," Adams said. "This new company will add important implementation tools that are tailored to credit unions of all sizes. We often hear credit unions want more than just advocacy and information from their associations; they also want affordable tools to help manage risk and compliance."
CU Risk Intelligence will soon create additional ownership and distribution alliances for other GRC products, including governance policies, enterprise risk management tools and vendor due diligence - all within a single, integrated platform.
Combining the knowledge and expertise of three established industry authorities - AffirmX, League InfoSight and CU Solutions Group - CU Risk Intelligence delivers scalable risk management and compliance solutions to suit credit unions of all sizes and levels of sophistication. Their platforms prioritize risk management tasks and remediation by utilizing relevant and timely data that improves performance throughout the organization. These applications strengthen an organization’s overall communication, supporting a state of continual readiness for audits and providing regulatory updates essential to maintaining credit union compliance. Learn more at CURiskIntelligence.com.
Nick Olexa, VP of Corporate Marketing