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1/1/2015 » 6/30/2015
2015 Webinar Series

Compliance Services


Compliance & Audit Services


In today’s complex regulatory environment, it can be difficult for a credit union to ensure compliance with the wide variety of rules and regulations. The Minnesota Credit Union Network offers its Compliance & Audit Services to help credit unions meet this challenge and stay abreast of the ever-changing regulatory landscape. MnCUN’s Compliance & Audit Services Programs provide options for credit unions to contract with a highly-qualified professional to help fulfill their compliance obligations. Compliance services are customized to each credit union and can be scheduled as a one-time service or on a quarterly, semi-annual, or annual basis.

As an employee of MnCUN, this individual will receive and maintain her compliance certifications and be managed at the expense of the Network, thus minimizing the overall cost to the credit union and the effort required.

  • Compliance Services Overview Webinar

Recorded in the summer of 2013, credit unions can now view this FREE overview of the Minnesota Credit Union Network's compliance & audit services! 
WATCH THE WEBINAR (17 minutes) 


Credit Union Testimonials

Regulations are always changing, making it difficult and expensive for our staff to stay current. Marcia provides knowledgeable expertise and support. She makes sure we are meeting the standards so that we can focus our time and energy on serving our members.  

Phil Kopischke
SharePoint Credit Union

Marcia is wonderful to work with. She knows her stuff. She doesn't just do an audit, she assists you through any regulatory changes that are needed and helps you any way she can.  

Lori Davis
Hermantown Federal Credit Union

We hired Marcia to conduct several audits in 2013. During the audits, she would discuss issues/concerns and make recommendations that helped us become more efficient. It was nice to be able to talk through issues without her just putting them on her report.

Alyce Justin
St. Cloud Federal Credit Union


Consultant Services

The following list of services is a general outline of functions performed through the MnCUN Compliance & Audit Consultant Program. Additional services may be available upon request.


  • Accounts Payable/Expense Reports
  • Bank Secrecy Act
  • Branch Operations
  • Collection Queues
  • Consumer Lending
  • Credit/Debit Card Administration
  • Deposit Products
  • Employee & Volunteer Accounts/Loans
  • FACT Act
  • Fraud Investigation/Mitigation
  • Home Mortgage Disclosure Act
  • Home Ownership Protection Act
  • Identity Theft Red Flag Rules
  • Marketing/Advertising
  • New Membership Opening, Including CIP
  • Overdraft Protection Program
  • Policy Review


  • Quality Assurance/Exception Reports
  • Real Estate Lending (Reg Z)
  • Real Estate Settlement Procedures Act
  • Reconciliations: Bank & General Ledger
  • Reg B Equal Credit Opportunity Act
  • Reg CC Funds Availability
  • Reg D Reserve Requirements
  • Reg DD Truth in Savings
  • Reg E Electronic Funds Transfer
  • Right to Financial Privacy Act
  • SAFE Act
  • Safe Deposit Boxes
  • Safeguarding Member Information
  • Security Program Part 748
  • Training
  • Vendor Management
  • Website Compliance
  • Wire Transfers

Jennifer Stedt

As the Network's Compliance & Audit Consultant, Stedt works with credit unions around the state to provide compliance and audit services. She assists credit unions in meeting ongoing regulatory needs and provides compliance and auditing services on a project basis. She also works as part of a credit union's team to identify compliance issues and assist in implementing solutions.

Stedt is a certified compliance officer with 20 years financial institution experience in a variety of positions. Her hands-on experience in a diverse range of positions enables her to fully understand the intricacies of credit union operations. Specifically, she has experience in risk management, internal auditing, training, compliance and operations. She also has the ability to establish, develop and strengthen programs that facilitate credit union compliance with regulations. 

Contact Jennifer Stedt by email, at (651) 288-5509, or at (800) 477-1034.


Shared Resource Compliance & Audit Services Program

MnCUN’s Shared Resource Compliance & Audit Services Program allows credit unions to contract with a highly-qualified compliance professional for assistance in managing their internal compliance programs. The Compliance & Audit Consultant will be contracted out to individual credit unions to work with them for regular, pre-specified time blocks. Time will be shared between credit unions (a minimum of one and maximum of six). Consultants work as part of a credit union’s team to identify issues and assist in implementing solutions.

The Shared Resource Compliance & Audit Services Program is ideally suited for credit unions that do not want or cannot afford a full-time resource – or those that wish to outsource compliance services or supplement their own internal efforts.

         Features & Benefits

  • Compliance & Audit Consultants are certified and receive up-to-date training
  • Customized programs can be tailored to fit a specific credit union’s needs
  • Time schedules are flexible, allowing credit unions to contract for various time blocks (i.e. one week/month)
  • Compliance & Audit Consultants provide a full range of audit and compliance functions
  • Compliance & Audit Consultants will help increase productivity by focusing on regulatory issues so that your staff doesn’t have to dedicate their time to this task
  • Credit unions don’t have to deal with turnover, on-going training, or the daily management of a compliance staff member


Compliance & Audit Consultant Program

MnCUN’s Compliance & Audit Consultant Program allows credit unions to contract with a highly-qualified compliance professional to perform specific tasks. Compliance & Audit Consultants support the credit union’s existing compliance programs by performing training, audits, reviews and more, providing customized services. Credit unions will work with the consultant to develop an appropriate compliance/audit plan. The Compliance & Audit Consultant Program is ideal for credit unions that wish to outsource some or all of their compliance functions and/or auditing needs.  

       Features & Benefits

  • Compliance & Audit Consultants are certified and receive up-to-date training
  • Consultants perform a variety of compliance functions as a third-party auditor/consultant
  • Credit unions can contract with MnCUN for individual projects or recurring audit services
  • On-site visits can be coordinated on a flexible schedule
  • A Consultant’s fee is strictly limited to the contracted project(s) to control expense to the credit union
  • Low cost compared to contracting with large compliance firms  



For additional information, contact MnCUN Vice President – Network Service Corporation John Ferstl by email or at (651) 288-5557 or (800) 477-1034.