Sheshunoff product opinion

Posted By: Anonymous

Sheshunoff product opinion - 02/13/03 05:27 PM

I'm new to compliance and am trying to find the best way of conducting research. I regularly use Kirchman's manual and place calls to their compliance service as well. I also try to maneuver around the FDIC (our examiner) website as best I can. Other than that, I've become an accomplished user of Google.

I have been contacted by Sheshunoff to purchase their Compliance Expert Internet library - to the tune of $1,625 a year. I have done some "test driving" on it, and it seems to be pretty decent.

May I ask the opinion of all you knowledgeable folks out there? What do you think? Is it a big enough bang for the proverbial buck?

I don't to turn this into some sort of infomercial-like testimonial session, but your honest opinion and suggestions would be most appreciated!
Posted By: Retired DQ

Re: Sheshunoff product opinion - 02/13/03 05:33 PM

Hi, I've used Alex Information's Regulatory Compliance Audit Program
in addition to Kirchman's Orange Book. It's good to have handy.
Also, I use OTS' (our regulator) compliance handbooks and self-assessments
and those I find very useful. Good luck, I know how you
feel, I am a newlywed as a compliance officer as well.
Posted By: MackenzieS

Re: Sheshunoff product opinion - 02/13/03 05:59 PM

The products are good but pricey. My issue is that once you begin using their products you get solicitation phone calls all the freakin time. I too use Kirchman and the internet. If you are new to BOL try using the BOL Launch Pad from the home page. I get a lot of my research through the links they provide. Good luck!
Posted By: Skittles

Re: Sheshunoff product opinion - 02/13/03 06:03 PM

FYI - we don't use their products AND I get calls 'all of the time'.
Posted By: Rubaiyat

Re: Sheshunoff product opinion - 02/13/03 06:25 PM

If your institution is a member of the ABA be sure to get a copy of "ABA On Call" which is a great phone directory organized by topic of who to call at the ABA regarding virtually anything related to banking. I have called them often with questions that I can't seem to find the answer to in other places.
Posted By: HRH Dawnie

Re: Sheshunoff product opinion - 02/13/03 06:34 PM

I spend about $600 a year for their CRA manuals and must admit...I've opened the dang things probably twice in the last two years. I probably won't renew, and I probably will get called.
Posted By: Anonymous

Re: Sheshunoff product opinion - 02/13/03 07:02 PM

Thank you all!

I appreciate your candor.

Now I only wish I could have received such good info when I was trying to decide which gym to join...
Posted By: Anonymous

Re: Sheshunoff product opinion - 02/13/03 07:07 PM

Sheshunoff is absolutely horrible about telemarketing. I have caller ID now and can tell when they are calling, so I let my voice mail talk to them (although once in a while it ends up being an actual customer calling from Iowa. ) I will suggest one thing - I finally got so fed up that I specifically told them to put me and my bank on their opt-out list. It did not totally eliminate the calls, but it has greatly reduced them.
Posted By: Kathleen O. Blanchard

Re: Sheshunoff product opinion - 02/13/03 07:14 PM

Despite sales calls, I do like their compliance expert. It is actually competitively priced for what it contains. It is similar to the old IHS Banking Library (including old federal registers (banking sections) not otherwise available but has the added feature of sample policies and procedures on many topics as well as audit guidance.
Posted By: MackenzieS

Re: Sheshunoff product opinion - 02/13/03 07:56 PM

In reply to:

I have caller ID now and can tell when they are calling, so I let my voice mail talk to them




Aren't you lucky!!!
Posted By: Retired DQ

Re: Sheshunoff product opinion - 02/13/03 08:34 PM

Hey lasvegas, you put your pic out there for the world to see!
Your pal, Maria (glad you kept lasvegas)
Posted By: Pale Rider

Re: Sheshunoff product opinion - 02/13/03 08:37 PM

Ditto, I stopped using Sheshunoff and Alexinformation (which used to be Sheshunoff) years ago and just today they called me to try and sell annual services for thousands of dollars. They are good services if you are need of resources and you are new to compliance, but honestly, the resources from the regulators, a free uncle BOB from Kirchman, and places like Bankersonline is sufficient.
Posted By: RebekahL CRCM

Re: Sheshunoff product opinion - 02/13/03 09:01 PM

"free uncle BOB from Kirchman"??

I'm a newbie - sorry
Posted By: P*Q

Re: Sheshunoff product opinion - 02/13/03 09:21 PM

I use the Bank Compliance Expert of CD product, have been for the last 3 years and find it very useful and easy to maneuver around in. Luckily, knock on wood, the sales calls haven't been too bad. I also use their Regulatory Audit Program and have found that very useful as well. I would recommend both products.
Posted By: Nikita, CRCM

Re: Sheshunoff product opinion - 02/13/03 09:32 PM

Kirchman BOB = Big Orange Book = Kirchman's Regualtory Compliance Manual. First issued as a manual in a big orange book, prior to being online.

Welcome to Compliance. Be glad you have BOL to help you.
Posted By: RebekahL CRCM

Re: Sheshunoff product opinion - 02/13/03 09:41 PM

Thanks Cheryl!

Believe me, I am counting my blessings that there is such a wealth of knowledge (and personality!) at my fingertips.

What in the world did all of you do prior to the internet?? (Retreat to the corner and assume the fetal position?)

Really - the support offered here is awesome!
Posted By: Michelle III

Re: Sheshunoff product opinion - 02/13/03 10:00 PM

Welcome to BOL!

Your from Big Sky Country? Any chance of that being Montana? My brother-in-law lives in MT. They moved from PA 3 years ago and now his wife makes homemade jam and sends it to us.
Posted By: RebekahL CRCM

Warning - rabbit trail alert! - 02/13/03 10:09 PM

Yep - Bozeman, Montana.

Any chance it is huckleberry jam? That is some of the best stuff on earth, as are huckleberry shakes, chocolate covered huckleberries, etc. etc.

Thanks for the welcome!
Posted By: Michelle III

Re: Warning - rabbit trail alert! - 02/13/03 10:12 PM

She makes all kinds of jam but she doesn't send any to me, jsut my husband. She likes him the best. LOL
Posted By: Kara S

Re: Sheshunoff product opinion - 02/13/03 10:13 PM

I agree that the wealth of knowledge here on BOL is great. I also use Kirchman, Sheshunoff, Alexinformation, Bank Focus, Thomson Financial, Thomas Compliance Associates, and Wisconsin Banker Association (WBA). Make sure to check if the state you work in has something like WBA that is just state specific.

I seem to be very lucky to be at a bank that does not pay attention to cost when it comes to having the necessary resources. Our corporate office will be moving soon and my department gets to share a library with legal! I can't wait, our own library!!!

Plus, I don't have to worry about phone calls from any of the above companys, we have Cisco IP Phones with caller I.D!

Welcome to all who are new and good luck finding your resources. BOL is one of my best resources and I try to use it as much as possible.