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CU Rx announces first client CU
JACKSON, Mich. (6/10/11)--Ohio Healthcare FCU, Dublin, Ohio, is the first client to sign with the newly named CU Rx, a risk management and compliance service credit union service organization. The $45 million-asset credit union signed with CU Rx for 100 hours of consulting services as part of a risk management and compliance retainer program. Through the program, the credit union will receive a free evaluation of its risk management and compliance needs. A tailored retainer option will then be developed detailing a specific block of work time, from 10 hours to 100 hours, for CU Rx to deliver the optimal mix of products, services, or training required for improvement. The retainer program provides a way to mitigate and manage risk by strengthening the credit union’s compliance program, policies and controls while preparing for National Credit Union Administration and state examinations. Originally established in 2005 as CP Financial Services, LLC, an affiliate of CP FCU, Jackson, Mich., CU Rx offers review and audit services of credit union risk management, fraud, compliance and regulatory best practices. CU Rx expertise includes the ability to understand and utilize the Ultradata core processing system. The company’s Ultradata expertise was a key factor in acquiring Ohio Healthcare FCU as a client, said Bryanna Tapley, CU Rx vice president of sales and service. “CU Rx enjoys a great working knowledge of the Ultradata system relative to risk management and compliance, because it’s used by our parent credit union CP Federal CU,” Tapley said. “CU Rx better understands why specific controls exist in the system and how to explain any changes to Ohio Healthcare’s staff. I expect the improvements we make for them in this area will be dramatic and pay off quickly.”


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