LCT Partners with Top Financial Firms to Launch Innovative Compliance Solutions for Credit Unions

LCT Launches Innovative CUSO for Credit Unions

Lender Compliance Technologies (LCT) has announced a significant new initiative aimed at revolutionizing compliance solutions for credit unions. On September 9, 2026, they introduced the LCT CUSO, a credit union service organization developed in collaboration with One Washington Financial (OWF), Jay Mossman, CEO of AKUVO, and SWBC. This new service is designed to deliver automated compliance solutions that promise to simplify processes and enhance accessibility for credit unions throughout the United States.

Objectives and Key Features

The primary aim of LCT CUSO is to help credit unions manage their compliance requirements effectively, particularly in the areas of finance and insurance (FI) products. Jay Mossman emphasized the critical role of LCT's technology in solving operational challenges faced by credit unions. By introducing intuitive and automated solutions, LCT CUSO will allow credit unions to focus on their core mission of assisting members rather than getting bogged down by compliance concerns.

Glenn Munro, CEO of LCT, remarked, “We are thrilled to build upon our existing credit union partnerships to provide compliant solutions that not only safeguard financial interests but also enhance member services.” In order to achieve this, the CUSO will utilize LCT’s flagship platform, Refund Control©, which automates cancellation and refund management for various financial products. This system currently processes over 100,000 cancellations monthly and supports a diverse range of credit unions serving more than 5 million members nationwide.

Reducing Operational Burden

One of the key benefits of the new LCT CUSO is its capacity to minimize the operational burdens typically associated with managing member refunds. Traditional methods often lead to delays and inefficiencies, risking compliance with regulatory frameworks. The Refund Control© platform seeks to resolve these issues by providing an integrated, audit-ready system that centralizes control and transparency. Credit unions will benefit from a single system capable of managing workflows tailored to their needs, which replaces the disjointed processes of third-party vendors.

For credit unions, this means having access to direct connections with over 800 providers, ensuring that they receive accurate refund quotes promptly. By streamlining administrative tasks, the platform automates processes that typically consume significant resources, thus freeing staff to engage with members more effectively. It has been noted that automation can significantly reduce workloads by up to 90%, allowing credit unions to reallocate resources where they are needed most.

Collaboration and Future Prospects

This initiative reflects a broader trend in the financial services industry, wherein organizations are increasingly turning to collaborative models to enhance their offerings. Paul Kirkbride, CEO of OWF, acknowledged that credit unions are perpetually searching for innovative solutions. He lauded the partnership with LCT, stating, “By leveraging LCT's expertise, we can modernize our operations, thereby improving recovery rates and ultimately benefiting our members.”

Moreover, Mark Hein, CEO of SWBC’s Financial Institution Group, highlighted the importance of simplifying refund processes for financial institutions. He pointed out that the cooperative efforts between LCT and SWBC are essential for reducing the complexity of refund collection, thus supporting financial institutions in providing better services.

For more insights on LCT CUSO and its Refund Control© system for credit unions, you can explore further at lct1.com/for-credit-unions. This collaboration signifies a pivotal step toward enhancing operational efficiency and member service within the credit union landscape.

About the Partners

Founded in 2021, Lender Compliance Technologies has quickly made a name as a pivotal compliance technology provider in the finance sector, focused on assisting lenders in managing their compliance needs. Their relationship with One Washington Financial, a subsidiary of the Washington State Employees Credit Union (WSECU), further solidifies their position in the industry. Meanwhile, SWBC continues to provide comprehensive financial services across various sectors, emphasizing customer-centric solutions tailored to everyday needs.

In conclusion, the launch of LCT CUSO is set to transform the operational landscape for credit unions, offering them the tools needed to navigate compliance challenges while enhancing member experiences. With the support of prominent industry partners, LCT is poised to lead the charge in compliance innovation for the financial sector.