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Download the White Paper "A Practical Guide to Effective Credit Union Enterprise Risk Management"

Your credit union takes a risk every time you open the door, make a loan, accept a deposit, process a payment, and hire or fire an employee. High performing credit unions are those that have embraced and learned to effectively manage risk.

Risk is the integral part of a credit union's business that drives earnings. To help your credit union thrive, your board, management, and risk managers must focus on five elements of enterprise risk management:

  1. Understand and define the credit union's risk appetite, considering the future implications of current strategic business decisions
  2. Translate the risk appetite into risk policy guidelines
  3. Implement information systems to monitor the changing risk environment and the credit union's performance
  4. Develop methods and systems for monitoring and reporting on risk
  5. Establish an effective risk governance, compliance, and management structure