NACUSO Adds Board Financial Literacy Training to Conference
In response to the need for documented director training to comply with recent NCUA regulations, NACUSO will offer assistance programs at its annual conference in April.
Dollar Associates LLC, a credit union management and consulting firm, will host NACUSO's three module training programs that will include the understanding of a credit union financial statement, the legal requirements and responsibilities of fiduciaries and the top ten items every credit union director should monitor monthly.
Each session will last approximately one hour and take place at 1:00 p.m., 2:15 p.m. and 3:30 p.m. EST on April 29. Verification for the participant's records will be provided by e-mail for those who complete the required financial statement portion of the training program.
Participants who complete all three sessions will receive complete certification by mail that can be used for both the NCUA requirement, internal board development purposes or for display, according to NACUSO. The fee for the training program is included in each attendee's NACUSO conference registration fee.
NACUSO's Annual Conference and Collaboration Connection will take place April 26-29 at the Encore Wynn Las Vegas.
As part of the financial literacy requirements, the NCUA has issued rules that say all FCU directors, including existing directors, must have the ability to read and understand a credit union balance sheet and income statement.