By Brad Powell

I’m pleased to announce the debut of a new product for credit unions today: Redboard.

What is Redboard? The short answer is that it’s credit union compliance software, aimed at helping CUs better respond to regulatory examinations. (For a longer answer, read more here. And feel free to follow up with questions and feedback.)

Why did we create Redboard? That answer has two parts.

The first reason we created Redboard is simple: We saw a need.

It’s obvious that credit unions have faced increasing challenges with the burden of compliance.

When a CU faces a regulatory exam, it needs to coordinate between internal resources, management, inside counsel and outside counsel. And mistakes can result in enforcement actions that jeopardize members’ trust in the institution. It’s a challenge. We’ve seen responsible, reputable credit unions struggle because something slipped through the cracks.

The development, testing and maintenance of compliance software could get in the way of core business systems. Even credit unions with established IT departments find that they can’t dedicate the resources to a solution.

The second reason for Redboard came out of the 20 years I have spent working with credit unions, currently as President and CEO of Axiaware.

At Axiaware, we’ve always been passionate about our mission: developing technology to help CUs and other organizations solve problems in creative ways. Redboard is a logical extension of that mission.

And serving credit unions has proved to be a rewarding mission for Axiaware. There’s nothing like helping a credit union solve a problem, because you know you’re ultimately doing it for the benefit of members. We look forward continuing that tradition with Redboard.

We believe that Redboard will help you solve these challenges without breaking the bank. But it doesn’t matter what we think. Redboard is designed for you, the credit union.

We’re curious what you think. Read all about Redboard on our new site, watch our demo video or contact us if you have any questions, feedback or want to learn more.