Governance Guidance: NASCUS Training Helps Volunteer Directors Stay Sharp

Board governance has been a hot topic of late for financial service regulators. In addition to being responsible for ensuring proper oversight and accountability of senior management, credit union boards of directors are also responsible for approving the strategic objectives and values that are communicated throughout the credit union.

That can be a lot to ask of a group of volunteers—especially at a time when credit union operations, products, services and regulations are growing increasingly complex.

To help credit union volunteer directors work as effectively as possible, the National Association of State Credit Union Supervisors (NASCUS) will host a day-long board of directors training at BECU’s headquarters in Tukwila, Wash., on April 22 to enhance board members’ understanding of their critical statutory, fiduciary and regulatory responsibilities. Tuition for the training, which runs from 9 a.m to 4 p.m., is $199 for NASCUS members or $299 for nonmembers.

The agenda includes an overview of national issues presented by Mary Martha Fortney, president and CEO of NASCUS, and Troy Stang, president and CEO of the Northwest Credit Union Association (NWCUA). Directors will then hear an update on current exam issues from Linda Jekel, Washington Department of Financial Institutions’ (DFI’s) director of credit unions, and Janet Powell, Oregon State supervisory examiner for the credit union program.

A representative from BECU will give an in-depth overview of director responsibilities as well, and to wrap up the day, Laura Fiene, assistant regional director at the Consumer Financial Protection Bureau (CFPB), will discuss critical compliance issues that board of directors should be aware of.

“Credit unions are made up of committed volunteers with the big responsibility to govern the credit union in a transparent manner,” Jekel said. “Core responsibilities include selecting and evaluating senior management, reviewing and revising strategic plans, evaluating new and existing products and services, and ensuring compliance with laws regulations and internal policies. This training will enhance their ability to perform these functions.”

If you have any questions or wish to register, please email Isaida@nascus.org or call 703.528.0796. The BECU Financial Center is located at 12770 Gateway Drive, Tukwila, WA 98168.

 

Questions? Contact Director of Regulatory Advocacy John Trull: 503.350.2209, jtrull@nwcua.org.

Posted in Business Solutions, Industry Insight.