Written byMichael Dean AufmuthAgency Principal, Elite FI Partners
Operational review byEmilia AufmuthAgency Principal, Elite FI Partners
Implement in controlled stages: align strategy, approve products and providers, map the member journey, design controls, confirm technology, train each role, test end to end, launch within defined limits, and review performance after launch.
The best launch date is the date the credit union can demonstrate product approval, staff readiness, workflow accuracy, member-document delivery, escalation ownership, and management visibility—not simply the earliest available date.
1. Align strategy and ownership
- Name the executive sponsor, day-to-day owner, and cross-functional team.
- Document member outcomes, participating channels, approved assets, goals, limits, and risk tolerance.
- Define legal, compliance, lending, operations, technology, training, and vendor responsibilities.
2. Complete product and third-party review
- Review provider background, financial condition, controls, insurance, complaints, authorization, subcontractors, and references.
- Confirm product forms, terms, exclusions, eligibility, pricing, cancellation, refunds, claims, and jurisdictional availability.
- Have qualified counsel review agreements and define audit, data, service-level, change-notice, dispute, and exit rights.
3. Design the member and employee workflow
- Map current direct and indirect lending journeys.
- Define when eligibility is checked and when cost and product information appear.
- Document acceptance, decline, contracting, delivery, retention, cancellation, refund, claim, complaint, and escalation steps.
- Prepare approved plain-language explanations.
4. Configure and test
- Validate data, roles, access, eligibility, rating, contract generation, storage, reporting, and error handling.
- Test common, boundary, exception, cancellation, and unavailable-product scenarios.
- Reconcile expected data and financial outputs across systems.
- Record defects, owners, decisions, retests, and final approval.
5. Train and certify each role
- Cover product, member conversation, workflow, documentation, privacy, complaint, and escalation responsibilities.
- Use scenario practice and knowledge checks—not attendance alone.
- Give managers observation tools, coaching guidance, and outlier-review responsibilities.
6. Use explicit go-live gates
- Final forms, pricing, jurisdictions, roles, access, and configurations approved
- Required employees trained and ready
- End-to-end tests passed with evidence retained
- Member documents and support contacts verified
- Complaint, cancellation, refund, claim, and incident paths operational
- Launch limits, monitoring cadence, and stop authority documented
7. Run a 30/60/90-day review
30 days
Resolve workflow issues, confirm documentation and reconciliation, and review early member questions.
60 days
Review training needs, exceptions, adoption patterns, cancellations, refunds, complaints, and provider response.
90 days
Assess goals, member outcomes, financial performance, risk indicators, and whether controls should change.
Official sources and further reading
These primary sources inform the program principles in this guide. They do not replace advice from the credit union’s own legal and compliance professionals.