Case Study: Unison Credit Union – Credit Union Compliance

The Challenge

Unison Credit Union has served communities in Northeast Wisconsin for almost a century, and recently added business lending to its services. The newly hired team felt confident about their processes, but required a third party firm to make sure they were adhering to credit union compliance policy.

But with a small portfolio, the Unison team struggled to find an experienced loan review company that was also affordable. Then, they discovered Enlighten Financial.

“Some of the accounting firms I talked with were double or triple of Enlighten’s cost,” said Chad Van Handel, Unison Credit Union’s Chief Lending Officer. “We were fortunate Enlighten was in the space because they certainly fit our needs, and I was very impressed with the service.”

Enlighten Financial Solution

As for all its clients, Enlighten Financial’s loan review process includes:

  • Ensuring that risk ratings are properly identified and assigned;
  • Testing credit underwriting to confirm risk is mitigated;
  • Reviewing loan policy;
  • Identifying unknown issues for management to address.

The team at Enlighten boasts decades of combined experience working in both community and regional banking. Enlighten’s expertise — in both the real-world challenges of lending and in industry best practices — provided an added advantage for Chad as he hired his team and formalized their processes. “I knew we were in a pretty big growth mode, and there were some things that weren’t getting done as timely as possible,” Chad said.

The Results

Thanks to Enlighten’s cost-effective services, its professionalism, and its industry expertise, Chad said there’s no question its partnership with Enlighten Financial will continue.

Working with the team at Enlighten, he said, “has been super. They definitely helped us on our journey to get better.”

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