Case Study: Elevations Credit Union achieves centralized audit, risk, and compliance and halves reporting time with AuditBoard

How Elevations Credit Union Centralized Audit, Risk, and Compliance

Elevations Credit Union, a Colorado-based financial institution that recently insourced its internal audit function, faced inefficient, fragmented workpaper and compliance processes across multiple federal and state regulations. Their five-person audit team selected AuditBoard’s connected risk management platform, including the CrossComply compliance module, to replace legacy systems and create a single source of truth for audit, risk, and compliance.

AuditBoard was implemented quickly (team members learned the platform in under a week) and centralized workflows, streamlined issue and action-plan management, and simplified regulator collaboration. As a result, Elevations Credit Union reduced monthly executive and audit committee reporting time by 50% (from eight hours to four), consolidated testing across frameworks such as NCUA and CFPB, and eliminated manual workpaper bottlenecks—delivering clear, measurable efficiency gains.

Elevations Credit Union

Elizabeth McDowell

AVP Internal Audit