Credit unions that need to bring board members up to speed on financial literacy in time to meet new NCUA regulations can use a one-hour program designed by the agency.
The $15 training module explains financial issues relevant to credit unions in a manner that is aimed to be understood by non-financial experts, according to the agency.
The financial skills requirement for FCU directors, which was approved by the NCUA Board earlier this year, takes effect on July 27.
The regulation requires that board members be able to read and understand the credit union’s balance sheet.
The NCUA module is available online.