Waypoint's staff consists of six highly experienced, credit union trained individuals. Besides owners Barry and Greg, Senior Accounts Manager, Brandon McDaniel, Senior IT Specialist, Merrill Currier, Compliance Specialist Laura Beth Hallman, and Associate Emma Adams, complete the Waypoint team.
Together the team is prepared to offer federally insured credit unions the following services:
- Annual Credit Union Agreed Upon Procedures Reviews: Waypoint performs annual examinations of a credit union's assets, liabilities, and equity using review standards acceptable to regulators for the purpose of testing the fairness of the presented balance sheet. NCUA Rules and Regulations set forth review requirements and standards for credit unions. These requirements and standards vary based on asset size and type of review.
- Periodic Internal Control Testing: Waypoint has developed a large menu of suggested internal control testing activities which can be performed on a periodic basis. Internal control testing is a valuable tool that is used in addition to the annual audit to continually test your credit union's processes and procedures. Working with credit union directors and supervisory committee members, we schedule and perform these testing procedures throughout the year, providing written reports, along with recommendations to improvethe overall controls environment.
- Compliance Testing, Policy Development, & Training: Several laws which govern how credit unions operate, including the Banks Secrecy Act, Truth-In-Lending, and the Fair Credit Reporting Act, to name a few, require annual testing, annual policy updates, and in some cases, annual training. Waypoint provides all these services as needed. In order to best meet the needs of credit unions, we have a calendar of training courses that we make available to all of our clients. The most popular of these courses pertain to director fiduciary responsibilities and director financial literacy.
- Fraud Investigation: Owner Greg R. Schmidt is a certified fraud examiner who makes his investigative services available to credit unions on an as needed basis. In addition, Barry Lynch has experience in both fraud investigation and bond claim preparation.
- Facilitated Strategic Planning Sessions / Strategic Plan Development: Capitalizing on their years of experience with both the National Credit Union Administration and the Texas Credit Union Department, Barrett T. Lynch and Brandon McDaniel work with credit union directors and senior managers to host and facilitate annual strategic planning sessions for individual credit unions. Written plan overviews are formulated following each session which outline strategic initiatives, goals, responsibilities, and execution timeframes.
- Verification of Member Accounts: On a biannual basis, in accordance with regulatory requirements, Waypoint verifies 100% of the member share and loan account balances for our respective credit union clients. We utilize local mail/shipping services providers to mail confirmation letters to the thousands of members our credit unions serve requesting that they notify our office if their own personal records do not agree with credit union stated balances.
Waypoint continually seeks to expand its service-line, adding additional products such as Merger Valuation Calculations, IT Services, and Enterprise Risk Assessments, as well as new training topics based on current compliance issues.