WARREN, MI., November 29, 2023 – Comply-YES!, a Credit Union Service Organization (CUSO) that provides compliance audit, review, and support services to credit unions and other CUSOs, announces new CEO as the company expands services to credit unions in Massachusetts.
Karl Borgquist is named CEO of the growing CUSO Comply-YES!. Previously, Karl served as the Chief Compliance Officer & General Counsel for the State of Michigan Retirement System, which provided him with years of experience in overseeing the compliance, legal, and accounting functions of a large institutional investor. “I’m excited to join the credit union space and work with this incredible team of compliance industry experts.” stated Karl. “To better serve our internal staff as well as current and new allies, we are working to develop and implement a roadmap that will cultivate innovative product offerings and automate back-office functions, helping us to scale up and yield higher performance.”
Karl brings with him extensive knowledge in risk-related compliance matters pursuant to state and federal laws and regulations. In addition, his expertise in designing, implementing, and maintaining internal policies and procedures along with structuring and negotiating investment fund transactions, positions him to develop long term investment strategies and new growth opportunities for the company.
“Our Board of Directors understood the importance of finding a candidate that could execute the strategic vision for the company into 2024 and beyond. It was crucial to hire a CEO who could build upon the growth we have experienced this year and understands the need to explore sustainable solutions to keep our business forward thinking.” mentioned Melissa Osborn, COO of Comply-YES!, who served as interim CEO before Karl joined the organization. “Karl’s qualifications and ambition are exactly what this CUSO needs to strengthen our infrastructure and further drive our “yes” oriented focus and solution-based mission.”
Since the company’s launch in 2021, Comply-YES! has provided compliance audit and review services and other compliance related support to thirty-eight organizations in fourteen states. Below are the most recently welcomed allies.
- Advantage One Credit Union
$248 Million – Brownstown, MI
- Common Trust Credit Union
$55 Million – Woburn, MA
Comply-YES! not only strives to provide timely, relevant, and strategic compliance solutions to meet the needs of our allies, but also genuinely cares about their needs and goals while aiming to deliver honest, sincere, and truthful services with every interaction. These core values are not only recognized by newly joined credit unions, but also apparent in the positive experiences shared by longtime allies.
Lynne Kindy, who is the VP of Compliance at Team One Credit Union, has been working with the CUSO since inception. “Our Credit Union joined forces with Comply-YES! to navigate the ever-changing and complex compliance and regulatory landscape. Having this compliance resource has benefited us multiple times, whether it is a quick email or a call, the interaction delivered the tools we needed to be successful. I look forward to continuing working closely with Comply-YES!”
Centra Credit Union, a state-chartered credit union in Indiana that began working with the CUSO last year revealed a similar sentiment. “The service that we received from Comply-YES! was incredible. The team accounted for our credit union’s needs, were very professional and provided us with guidance before, during and after our audit. Plus, I really appreciated their willingness to educate us along the way.” noted the AVP of Internal Audits, William Brown.
About Comply-YES!
Comply-YES! provides credit unions and CUSOs with a vacation from their compliance worries through customized and cost-effective outsourcing of compliance audit and review services. Whether your credit union has an open compliance position or needs additional compliance support, Comply-YES! performs the work so your credit union can focus on what matters most; serving your members. Visit our website www.comply-yes.com or reach out to us at comply@comply-yes.com for more information.
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