Checklist

Assess Your Loan Quality Control Plan

ABOUT THIS CHECKLIST

A credit union’s #1 mission is a quality experience for its members. Managing originations and keeping up with regulatory changes across digital channels, indirect auto dealers, mortgage loans, call center, and in-person branches can be challenging. Today, credit unions must break free from antiquated spreadsheets and build an automated quality control plan that supports the rapid change of today’s lending environment. If your loan quality is compromised, it can affect your liquidity and increase risk when it comes to safe and sound compliance practices.

SELF ASSESSMENT IS A BEST PRACTICE

As a best practice, it is important to conduct an annual self-evaluation of your current quality control (QC) and compliance process to ensure you are utilizing the most efficient methods to best meet the needs of your organization. This checklist was designed to help credit unions assess their current QC processes and determine if their loan quality is at risk.