Compliance Outlook. Policies Vs. Procedures. Policies vs. Procedures. When considering policies and procedures it is easily understood that both are essential in the guidance of credit union operations.
Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.
When considering policies and procedures it is easily understood that both are essential in the guidance of credit union operations.
Due to the similarities in the concepts for policies and procedures the two words are often used interchangeably, which is not correct.
It is important to understand the difference between the two to understand how they affect the guidance and management of credit union activities.
Policies contain the: Rules, Guidelines, and Strategic Goals of a credit union.
Policies include guidance for:
Procedures represent the process the credit union uses to implement policies. They are step by step instructions that provide credit union employees with the information they need to conduct daily credit union practices and operations.
Shawn Wolbert, CIA, CUCE
Director CU System Relations
101 S. Washington Square, Suite 900
Lansing, MI 48933-1703
(800) 262-6285 Ext. 486
(734) 658-5427 Mobile
Follow me on Twitter – Shawn Wolbert @ Go2CUGuru