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When your Credit Union needs audit or advisory services, you want an accounting firm that is familiar with the many nuances that make credit unions unique. At YHB, we offer customized solutions tailored to your credit unions specific needs.
As a client of YHB, you can expect timely responses and exceptional service. Services that we provide:
You already know that a federally or state-chartered credit union is required to obtain an annual audit every twelve-months but fulfilling these audit requirements and understanding your options is often confusing.
According to the Rules and Regulations Part 715 from the National Credit Union Administration (NCUA), credit unions are allowed to opt for a Supervisory Committee Audit if they are under $500 Million in asset size. This could mean thousands of dollars in savings compared to conducting a full scope financial statement audit!
Supervisory Committee Audits can be performed by the supervisory committee, the internal auditor, or any other qualified person (such as a certified public accountant) to satisfy the minimum requirement. When conducted by a CPA firm, parameters can be established as a set of Agreed Upon Procedures (AUP) and be completed extremely efficiently.
Small- or medium-sized credit unions might not be required to perform an audit of their financial statements. For those who choose not to perform an audit, we can conduct a Supervisory Committee agreed-upon procedures engagement which fulfills NCUA Supervisory Committee and State of Maryland/Virginia Commissioner of Financial Regulation requirements.
Credit unions are required by the NCUA to perform a verification of accounts, at least biennially. We can assist you in performing this verification as either part of an agreed-upon procedures or audit engagement or as a separate engagement.
We offer both sample verifications and 100% verifications. Our verification procedures are performed in accordance with the Practitioners Publishing Company Guide to Audits of Financial Institutions.
Not every financial institution director has a background in audit, accounting, or finance. We can help directors to better understand the financial institution operations and accounting system so that they can better serve their customers and investors. Our training sessions can be tailored to fit your specific needs.
When your credit union needs advisory services, you want an accounting firm that is familiar with the many nuances that make credit unions unique. At YHB, we offer customized solutions tailored to your credit union’s specific needs.
We take pride in our process and invest in the technology and resources to limit and even eliminate out-of-pocket expenses for travel and accommodations. Using industry proven document request management software, your management team, as well as your YHB engagement team, can actively monitor exactly what has been provided to complete your services timely and efficiently.
What this means for you:
YHB is proud to serve Credit Unions from Delaware to Virginia and everywhere in between. Our team is positioned to help your Credit Union serve members and community while running a prosperous business. YHB’s industry knowledge is ready to help you mitigate risk, navigate complex changes and provide your members with confidence.
YHB has been committed to serving credit unions in the region for over 75 years. Our financial institutions team, which consists of dozens of professionals, dedicates their entire practice to financial institutions. The team’s singular focus is to meet the audit and consulting needs of the industry we serve. We have always recognized the need to respond in a timely manner to all of our credit union clients.
Contact us when it’s time to move forward.
Justin began his career at Yount, Hyde & Barbour in 2007, where he has worked exclusively for our Community Bank Services Team since graduating from Old Dominion University with a degree in Business Administration, focusing in Accounting. Justin is based in our Richmond office, and is a member of the American Institute of Certified Public Accountants and the Virginia Society of Certified Public Accountants.
Justin is an audit leader for the firm, performing external audits, internal audits, bank tax services and SOX consulting for public and non-public financial institutions, and has been working with community banks in Virginia and throughout the region for over ten years.
Justin’s background has been exclusively with financial institutions since joining the firm, giving him valuable insights and significant experience in providing his clients with quality, value-added services. He has expertise in providing internal, external, and SOX 404 audits, as well as SEC and financial reporting assistance and significant experience with mergers and acquisition transactions.
Justin’s focus is on providing quality service and adding value for his clients by being a trusted advisor and resource. He believes that accessibility and open, timely communication are key to developing strong relationships with clients and providing them the highest quality services that meet their needs in a changing, challenging environment.
Brandon is an audit leader for the bank team. He regularly prepares audit and accounting updates for the team. Brandon has worked exclusively for the bank team since graduating from Virginia Tech performing external audits, internal audits, bank tax services and SOX consulting.
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“Very professional and highly knowledgeable.” – Dean C.
Luke began his professional career at YHB upon graduation from Virginia Tech with a bachelor’s degree in Accounting and Information Systems as well as Finance. Since that time, he has worked exclusively for the Firm’s Financial Institutions Team. He specializes in performing external audits, internal audits, bank tax services, SEC regulatory compliance, and FDICIA/SOX implementation and consulting.
Luke is an audit leader for the team and is on the firm’s Audit Quality Committee and Marketing Committee. He is actively involved in providing audit and accounting updates, training for the team, and maintaining audit programs and policy. Luke regularly conducts industry specific, accounting and audit training within and outside the firm and is a regular speaker and presenter at YHB’s quarterly webinars and various banking associations.
Steve has over 25 years of professional experience and has dedicated his practice to providing accounting, auditing, advisory and consulting services to financial institutions throughout the region. He is a graduate of University of Delaware and has a Bachelor of Science Degree in Accounting.
Steve is a member of the American Institute of Certified Public Accountants, Maryland Association of Certified Public Accountants, and the Financial Managers Society.
Steve is a leader on YHB’s community bank and employee benefit plans practices. In this role, Steve is responsible for assuring the highest quality service to clients served in these industries. Steve also serves as technical reviewer for the Firm’s FAR overhead audits performed for engineering firms as well as the Firm’s internal audit engagements.
His specialties include:
Steve has completed Maryland Bankers School and was President of the 1997 graduating class. He also served on the Board of Directors for Federal Hill South Neighborhood Association and Glenwood Life Counseling Center.
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“Steve does a great job and is always available for us to bounce ideas around.” – Renee L.
Hannah graduated from James Madison University in 2013 with a Master’s Degree in Accounting and Information Systems. She joined YHB in 2014 and has worked exclusively on YHB’s Financial Institution team performing external audits, internal audits, and SOX consulting services for community banks. Hannah became a Certified Public Accountant in 2015.
Jeff is an Audit Manager in our Richmond office. He has a Bachelor’s Degree in Accounting and a Master’s Degree in Accounting both from James Madison University. He became a Certified Public Accountant in 2011 and joined YHB in 2014. Jeff works exclusively with our financial institutions team performing internal and external audits.
Darlene is an industry leader with over 35 years of experience. She manages independent audit engagements for credit unions and community banks. and also serves as the engagement quality reviewer on many of the Firm’s audits. She is a graduate of Loyola University Maryland with a Bachelor of Business Administration degree in accounting.
She is a member of the American Institute of Certified Public Accountants, the Maryland Association of Certified Public Accountants where she served on the Cooperation with Financial Institutions Committee and served and chaired the Women’s Career Issues Committee, the Association of Certified Fraud Examiners, and the Risk Management Association (RMA).
With her vast expertise, Darlene has become a leader in the area of internal auditing and regulatory compliance. Her services are designed for maximum flexibility, allowing you to utilize her specialties for one specific project or on an ongoing basis. Darlene enjoys teaching and has developed and presented various accounting educational programs for financial institutions. In addition, she conducts specialized training sessions on various topics including oversight/governance, lending, and internal controls. She has appeared as a speaker at a national conference discussing the importance of internal controls. She frequently speaks at Career Days for students.
Her specialties include:
A fan of musical theater, Darlene has appeared in a number of productions with various community theater groups. She is an active supporter and volunteer for the Blackfriars Theatre program with Archbishop Curley High School.
Darlene and her husband have chaired and remain actively involved with the annual galas for The Catholic High School of Baltimore and Archbishop Curley High School, their alma maters. Darlene is a current member of the Finance Committee for St. Isaac Jogues Parish and is the past treasurer for the Immaculate Heart of Mary School’s Home and School Association.
Darlene was awarded the Mother Generosa McCafferty Distinguished Alumna Award from The Catholic High School of Baltimore in 2015.
Darlene and her husband, David, were awarded the Archbishop Curley Cornerstone Award in 2019 for their dedicated volunteerism to the school.
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“The knowledge and audit services provided by YHB, and particularly Principal Darlene Gerstmyer, have been invaluable to our Supervisory Committee. Our Board’s decision to not backfill an Internal Auditor’s position left a highly concerning void in our oversight capability. Darlene and her team worked with us to initiate an engagement that provided much needed internal audit coverage, and in the process provided highly valued insights that helped to shape and improve our oversight capabilities. The team has provided excellent audit services; and, equally important, have unfailingly made themselves available to provide much needed advice at critical times.” – Lou D.
Tom began his professional career at YHB in 1997, with a Bachelor’s degree in liberal arts and sciences as well as a Master of Accountancy degree, both from Virginia Tech. He is a member of the American Institute of Certified Public Accountants and the Virginia Society of Certified Public Accountants.
For years, Tom has dedicated his practice to providing accounting, auditing, advisory and tax services to financial institutions throughout Virginia, West Virginia, Maryland and Pennsylvania. A leader of our Financial Institutions Team, Tom also serves on our IT Steering Committee and Organizational Development Steering Committee and conducts annual audit training for new hires.
Because Tom has worked with financial institutions for more than 10 years, he excels in conducting internal, external and SOX 404 audits, assisting with SEC and financial reporting, and providing tax compliance services to financial institutions. While he has expertise in consulting about internal controls and SOX implementation, Tom’s comprehensive knowledge of the financial institutions industry enables him to meet the full range of a client’s accounting service needs.
Tom believes that building a strong relationship with clients is one of the keys to maximizing the benefits of the services he provides. In working with clients, he listens carefully to what their needs are. Because of his bank audit expertise, Tom is able to minimize disruption of the client’s staff while optimizing communication and achieving the desired results. Tom also believes that all members of our Financial Institutions Team are instrumental in building successful client relationships and performing engagements. Our focus on attracting, developing and retaining top professionals makes YHB a leader in providing services to community banks and credit unions.
In his free time, Tom enjoys traveling and camping with his wife and two children and watching the kids play sports. His hobbies include running marathons and playing basketball.
Drew is a 2008 graduate of the University of Lynchburg (previously Lynchburg College) and has a Bachelor’s Degree in Business Administration (concentration in Accounting). He joined YHB in 2009 and became a Certified Public Accountant in 2010. Since joining the firm, Drew has worked exclusively for YHB’s bank team. Because of this industry expertise, Drew excels in conducting internal, external, and SOX 404 audits to financial institutions throughout the Mid-Atlantic. He also has extensive experience working with SEC and financial reporting and SOX/FDICIA implementation and consulting. Drew’s extensive knowledge of the community banking industry enables him to meet the full range of a client’s accounting service needs.
Drew’s approach begins with building a strong relationship with his clients in order to understand their needs and maximize the services he provides. He maintains open, timely communication and provides quality, value-added services to limit disruptions to his client’s staff during the engagement’s timeline.
Drew is a member of the American Institute of Certified Public Accountants, the Virginia Society of Certified Public Accounts, and the Institute of Internal Auditors. He is also a member of YHB’s Marketing Committee, leads annual staff trainings, is a leader on our audit team in keeping up with and implementing changes in generally accepted auditing practices and assists our HR team in recruiting, retaining and developing top accounting professionals. Drew currently resides in Midlothian, Virginia with his wife and two boys and enjoys any opportunity he gets to golf, hunt and spend time with his family and friends.
Jesse began his professional career at YHB in 2005. He graduated from Marshall University in 2003 and received a Master’s Degree in Professional Accounting from West Virginia University in 2004. Jesse is a member of our Community Bank Services team and leads our Roanoke office.
Jesse has been working with community banks since 2005 and helped open and lead our Roanoke office, which opened in 2014. Jesse has extensive experience in SOX/FDICIA consulting as well as outsourced internal audit engagements. He has been instrumental in leading YHB’s compliance efforts and stays abreast of compliance developments, trains our teams and develops our compliance audit programs. He is a member of the American Institute of Certified Public Accountants (AICPA) and the Virginia Society of Certified Public Accountants (VSCPA).
Jesse has worked with community banks for over 10 years providing reliable and quality solutions. He regularly conducts internal, external, SOX 404 and compliance audits. Jesse also has extensive experience with mergers, acquisitions and strategic planning.
Understanding that building relationships with clients is an important aspect of providing strong client service, Jesse takes the time to develop an understanding of clients’ needs while helping them prepare for future industry changes. As important, Jesse enjoys working with younger staff to develop their expertise so that they are better able to serve client’s needs.
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“Jesse Meadows is phenomenal…We feel extremely fortunate to have the opportunity to work with these teams from YHB. Thank you for your invaluable service to RSB!!!” – Jane L.
Ben initially joined the YHB team as an intern. Following graduation from Virginia Tech (where he earned a degree in Accounting and Information Systems) in 2012, he officially began his career at YHB as an Associate and became a licensed CPA in 2014. He later spent 5 years in the private sector and returned back to YHB in 2022.
Due to his performance throughout his career, Ben has earned the role of Audit Manager on the Financial Institution team in Richmond, where he mainly focuses on leading engagements for community banks and credit unions and SOX 404 compliance.
He is also a member of the American Institute of Certified Public Accountants and the Virginia Society of Certified Public Accountants.
Outside of work, Ben enjoys spending time outside, specifically boating and spending time on the Rappahannock river with his family.
Ben uses a friendly and respectful approach to help build relationships with clients in order to best serve their needs and provide high quality service. He uses open, timely communication to develop strong relationships with his clients and aims to be a trusted advisor to them in all aspects of the engagement process.
