SORM is here to support credit unions meet their everyday challenges. We provide solutions that are designed with the complex risk and compliance environment in mind but make them easy to implement.
Our view is that credit unions should be able to direct their focus on their members while we assist in looking after the operational supports.
OUR BELIEFS
We believe that:
- credit unions are an important part of the financial and social fabric of our society.
- most challenges faced by credit unions are similar and this means that there is potential to put in place common approaches and solutions where costs are shared
- the use of technology and a shared approach can bring down back-office costs while improving operations and addressing gaps
Over the past number of years, the pressures on credit unions have continued to grow – risk management, compliance and internal audit continue to identify gaps in processes and procedures that may negatively impact on a credit union’s ability to serve the member
Credit union must develop and improve processes to address these gaps and this can move the CU’s focus from service to the member to a larger back-office, increased costs and pressure to merge
At SORM we see the gaps identified through Risk, Compliance and Internal Audit but our aim is to put solutions in place to the address these gaps allowing credit unions to focus on member service.