3 Ways Credit Unions can Train with Compliance and Confidence
July 12, 2022

Credit unions, a popular alternative to traditional banks in the United States, offer a wealth of financial benefits to consumers and other organizations. However, in order to do so, they must assure compliance with federal regulations and standards of good business. Learning and development teams need effective eLearning platforms that get every employee up to speed and keep them there in order to continue to provide the best services to customers.

1. Credit Unions Need Compliance Training

Approximately 128 million people benefit from credit union financial services annually [1]. This clearly demonstrates the importance of these institutions within the US financial system and for individuals and their families. They process paychecks, extend everything from small personal loans to mortgages, and manage retirement accounts. In order to help so many people, compliance with federal consumer protection guidelines and financial regulations is necessary [2]. The only way to achieve this is for the credit union to provide effective compliance training.

2. Use Effective Data Collection Tech

The only way to track compliance with all necessary regulations and determine the efficacy of the training systems is to collect data and analyze it. This requires robust technology that can easily access the information you need to build a functional baseline and exceed it. Organizations that focus on data collection and management enjoy a 173% improved rate of regulatory compliance than those that do not have such systems in place [3]. For the most part, this has nothing to do with human error or shortcomings. It all comes down to the SaaS platform chosen and how well its tech systems collect and analyze the data necessary for success.

3. User-Friendly Compliance Tech Encourages Use

Every credit union needs compliance training and must use effective data collection and analysis methods to ensure a proper outcome. This type of technology can deliver eLearning opportunities every employee can cover every nuance of what they need to know to benefit the organization. However, if the system is not user-friendly or designed for easy use, people will not start or complete the process.

Clean interfaces and accessible data and systems are an essential part of compliance training. User-friendly design has long been a benchmark of customer relations when it comes to website mobile access. Now, as an ever-increasing number of credit unions and other organizations adopt SaaS for their backend management, they find that user experience also matters for in-house tasks and training. This is especially important when employees access the eLearning options from their own devices instead of in a defined educational setting [4]. If people cannot comfortably use the systems on their laptop or phone, they will either ignore them completely or skip through important parts to get finished as quickly as possible.

Compliance training technology with accessible design, powerful data collection abilities, and robust eLearning systems design much of what Amesite provides for companies and organizations around the world. As with the recent Michigan Works! Southeast talent development and training program, the results speak for themselves. Contact us now to learn how your credit union can benefit from an AI-powered platform delivered in just 24 hours.





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