A peer network makes a difference in compliance

When the pandemic upended business as usual, it also sparked new collaboration across the credit union industry. A key innovation was the creation of the Compliance and Risk Council, a new space for collaboration, insight, and leadership.

As American Airlines Credit Union approaches the $10 billion mark – a milestone that triggers oversight from the Consumer Financial Protection Bureau (CFPB) – Faith Anderson reached out to peers in the Compliance & Risk Council who were facing or had already undergone the transition. Their practical advice and lessons learned helped her prepare proactively rather than reactively.

"I spoke with folks who are preparing for $10 billion or who are already over $10 billion," said Anderson, senior vice president and general counsel for American Airlines Federal Credit Union. “They shared what worked, what didn’t, and what to expect–insight you just can’t get from regulations alone.”

That guidance proved essential when her credit union grew by more than $1.5B during the pandemic, accelerating the timeline for CFPB oversight. Unlike the National Credit Union Association, which focuses on safety and soundness, the CFPB has a singular focus: consumer protection – requiring a new level of preparedness.

Building expertise through virtual connections

Anderson joined the Council in 2020 and helped establish the governance framework. In its initial stages, members served collectively without formal leadership roles. When meetings began virtually, the format created strong connections as professionals shared real-time challenges–from regulatory pressures to operational risks–regardless of asset size.

Once in-person meetings resumed, members extended Anderson's leadership term, recognizing the virtual-only format had limited opportunities for traditional leadership development and relationship-building.

Cross-Council collaboration expands influence

Anderson's leadership role expanded her influence beyond the Compliance & Risk Council, allowing her to collaborate with professionals across all seven Councils. Through cross-Council presentations at the Government Affairs Conference, roundtables, and chats, she strengthened industry partnerships, gained insight as well as provided input and guidance into current issues such as overdraft and other fees, third party risk management, regulatory overreach and impact, vendor management and litigation from a compliance and risk perspective.

In recent years, she has contributed to national conversations by participating in panels on generative AI along with Technology & Innovation and Operations & Member Experience Council members. She also moderated a panel regarding fraud prevention and cybersecurity, bringing the essential compliance perspective to innovations that impact members across all credit unions.

Leading with Insight and Inclusion

Now serving as First Vice Chair of the Council’s Executive Committee, which oversees all seven Councils, Anderson sees her role not only as a leader, but as a connector. She collaborates with professionals in technology, HR, lending, operations, marketing, finance and, of course, compliance risk to ensure that diverse perspectives shape the future of the movement.

She also believes representation drives innovation. “It’s important to have folks with different backgrounds and experiences bringing unique insights to their leadership roles. That’s how progress happens.”

Encouraging broader participation

For compliance and risk professionals considering Council membership, Anderson's advice is direct: "Joining the Council will grow and develop your leadership skills and expertise, not just for your own career, but for your credit union. We can all lift each other up."

She also doesn’t mince words around what she has learned about the industry's collaborative culture. "These are the leaders in the industry,” she said. “They're very passionate about credit unions and also they're willing to share their knowledge with folks in the Council."

The willingness to share expertise, particularly when it comes to navigating complex regulatory transitions, is what turns competitive institutions into collaborative partners advancing the entire credit union industry.

Today, Faith’s leadership continues to shape a collaborative, inclusive foundation for executive professionals nationwide.

Don’t miss your opportunity to connect with compliance and risk professionals in 2026 so you can navigate emerging issue facing the compliance field with confidence and support.