NWCUA Offering Required FCU Director Training

In response to the NCUA Board’s December 16th approval of a new financial literacy rule for volunteer credit union directors of a federal credit union, the Northwest Credit Union Association (NWCUA) is offering the required training to help board of directors obtain a minimum ability to read a credit union income statement and balance sheet. Read the summary of the ruling. This rule applies tot fedreal credit unioons only.

While the required level of financial literacy training will depend on the complexity of individual credit unions, directors will only be given six months to receive training in financial literacy, with the NCUA providing both Internet-based and as many as 50 regional training sessions in the coming months.

The first Association webinars on this topic are February 15, March 3, and March 30. More are being scheduled throughout the year. A full list of director training dates and information are below, along with information about how a board member can earn CUNA’s Board Financial Literacy Certificate. There are three ways to complete the required training.

Contact Nancy Pullen at 800.995.9064 for more information.

This CUNA BFL certificate can be earned in one of three ways:

1. Attend the CUNA CU Finance for Non-Financial Managers & Volunteers eSchool, May 4-June 15, 2011.

2. Attend the CUNA CU Finance for Non-Financial Managers & Volunteers School, April 3-6, 2011 in Nashville, Tenn.

3. Complete six self-study CUNA Volunteer Achievement Program (VAP) courses including: Financial Reports for Volunteers, Managing Risk for Volunteers, Financial Management, Asset-Liability Management for Directors, The Basics of Risk Assessment for Volunteers, and Understanding Audit Reports.

Posted in Compliance News, CUNA, Events, NWCUA.