Credit union auditors are often stretched thin. Many work in small teams with too many responsibilities and not enough time to complete them. The process of managing audits and examinations can be slow and cumbersome, requiring countless emails, spreadsheets, and status updates just to stay on track.
These inefficiencies add up, consuming valuable time and increasing risk.
Industrial Credit Union is a credit union that has six branches and serves nearly 40,000 members in the northwest corner of Washington state.
Over time, the credit union began to recognize a problem that is not unfamiliar to many credit unions in America. The processes and systems the credit union used to manage audit findings in its earliest days had just sort of hung around, even as the credit union’s growth began to overstress these systems.
“The only constant in life is change,” said the Greek philosopher Heraclitus. That feels particularly true lately.
Recently, two NCUA Board Members were removed from office before the end of their terms. This has resulted in some discussion about how much the NCUA is able to accomplish or enforce.
Furthermore, there are some lingering questions about other regulatory bodies (such as the CFPB), as well as rumblings of rising pressure on the credit union tax exemption. We may be in for a long period of regulatory uncertainty.
So, what does all this mean for credit union auditors?
Some tools are so useful that once you start using them, you wonder how you ever got by without them. Audit management software falls into that category.
The best credit union audit and compliance conferences 2025
Audit and risk management are crucial to the success—and survival—of credit unions.
Each year, the NCUA Supervisory Priorities outline what credit unions should expect in their examinations. Some priorities from previous years remain, including credit risk, liquidity, and compliance.
Keep an eye on familiar themes, such as rising delinquencies, liquidity concerns, cybersecurity threats, and evolving consumer protection rules.
However, in 2025, new themes emerge, along with a shift in focus to new economic conditions, regulatory changes, and emerging risks. Here are the highlights:
Service 1st Federal Credit Union (“Service 1st”) is a $690 million credit union based in Danville, PA. Founded in 1975, it has now opened branches that serve residents throughout central Pennsylvania.
Over its nearly 50 years in business, Service 1st has always sought new ways to pursue excellence.
1st Community Federal Credit Union (1CFCU) is an $385 million credit union headquartered in San Angelo, Texas.
Like other credit unions across the country, 1CFCU became aware of inefficiencies and accountability issues in their audit process that—at least in the area of findings remediation—were problematic, on a couple of fronts.
This is the 5th blog in a series about Artificial Intelligence (AI) in the context of credit union risk and compliance. This series is designed to provide auditors and compliance professionals with a clear understanding of how AI can be applied and managed within their operations.
Artificial Intelligence (AI) is making its debut in just about every industry. Many credit unions have been using AI-powered technologies for years, such as for loan decisioning and cybersecurity.
This is the 4th blog in a series about Artificial Intelligence (AI) in the context of credit union risk and compliance. This series is designed to provide auditors and compliance professionals with a clear understanding of how AI can be applied and managed within their operations.
When you’re protecting something important, you want to defend it well. The Institute for Internal Auditors developed a model that recommends 3 lines of defense:
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