NCUA Releases Tab on 2014 Training Confab: $1.9M
The NCUA’s recent training conference in Jacksonville, Fla., cost $1.9 million, about $175,000 below its original budget, the agency said Wednesday.
Travel was the most expensive category at $672,650 followed by lodging at $522,070. The agency said it paid $83 per night for the lodgings at the Hyatt Regency Jacksonville Riverfront.
The total cost of the “Pathway to the Future” National Training Conference, held April 28 through May 9, was $1,911,267.
“Federally insured credit unions will benefit from better examinations and service from National Credit Union Administration examiners after the completion of an extensive skills development program conducted at the agency’s biennial National Training Conference,” the agency said in a news release.
There were more than 1,200 participants at the event, which came in $176,133 below budget. The NCUA said the conference cost $512,945 less than its 2012 training conference.
“Providing the credit union system with well-prepared and knowledgeable examiners is essential to protecting safety and soundness,” NCUA Executive Director Mark Treichel said. “The kind of professional development that takes place at the National Training Conference makes the examination process operate more efficiently and provides greater consistency.”
The main sessions focused on supervisory committee audits, administrative actions, ethics, technology tools and professional development. The breakout sessions touched upon topics such as liquidity, interest rate risk as well as lending and compliance with new mortgage rules, the agency said.
During the conference, the NCUA upgraded the standard government personal identification cards required for staff. The agency said doing the upgrades onsite cut costs since staff did not have to travel to General Services Administration regional offices for the updates.
“This training is part of the NCUA’s efforts to modernize operations and stay abreast of changes in the credit union system,” Treichel said. “With so many of our staff based across the country, bringing everyone together for this sort of comprehensive training is the surest, most cost-effective way to help them develop or improve their skills.”