Whatcom Educational Credit Union Case study

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Overview

Whatcom Educational Credit Union (WECU) is a not-for-profit financial cooperative that was using a GRC software specifically designed for credit unions and banks.

Solution

WECU chose StandardFusion for its diverse functionality across frameworks, centralized controls and open API

  • Implemented their own custom risk methodology and workflow
  • Created a single source of truth by centralizing all their controls

Challenge

WECU was using a GRC tool specifically for credit unions and financial institutions that had limited scope and functionality

  • Existing solution focused too heavily on managing individual processes instead of the organization as a whole
  • The lack of 360-degree view and reporting capabilities
  • Software did not allow for the use of additional compliance frameworks