basic finance

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  Board Competencies Beyond Fin Lit

  March 25, 2012

  While there are multiple viewpoints on the federal credit union industry’s new efforts for directors to smarten up as mandated by the NCUA rule on director financial literacy, an upshot opportunity presents itself in the form of enhanced governance by directors.

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  The Day the NCUA Demanded CU Directors Smarten Up

  By Robert McGarvey  |  January 9, 2012

  The tough NCUA financial literacy requirements for credit union volunteer directors came as a loud wake-up call on Jan. 27, 2011. And the provision came with a requirement that all new directors had to gain financial literacy within six months of their election.

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  New NCUA Directors Rules Raise Risk Exposure

  By Claude R. Marx  |  August 4, 2011

  CUNA Mutual Group exec warns of changes in talk at National Directors' Convention in Las Vegas.

• Feds, States Eye How Credit Unions Are Run

  By Claude R. Marx  |  March 2, 2011

  It’s not just about your assets. While the NCUA and state regulators certainly care about the raw numbers of credit unions, they are putting more emphasis on scrutinizing how credit unions are run. In other words, the "M" in CAMEL is getting the spotlight.

• Beyond Financial Literacy: The Board's Role in Managing Risk

  February 21, 2011

  During a recent Credit Union Leadership Forum web seminar, we discussed the practical and real-world implications of the new NCUA regulations regarding board of director responsibilities.

• NAFCU Urges Narrow Implementation Of Director Financial Literacy Rule

  By Claude R. Marx  |  February 2, 2011

  When the NCUA issues guidance to credit unions on the new rule mandating financial literacy for board members, it should apply the rule narrowly and be "flexible in the rules application and enforcement," NAFCU President Fred Becker wrote in a letter.

• NCUA Financial Literacy Rules Spark Seminars

  By Jim Rubenstein  |  January 19, 2011

  Those new NCUA rules taking effect next week on financial literacy for credit union directors continued to stir heightened compliance worries.

• Signups Surge for CUNA's Director Literacy Audio Conference

  By Jim Rubenstein  |  January 12, 2011

  Credit union concern over NCUA's financial literacy rules for directors continued to peak Wednesday with CUNA now counting what it called a "huge" signup--1,800 participants--for an audio conference Thursday on the topic.

• Leagues Ramp Up Director Literacy

  By Jim Rubenstein  |  December 30, 2010

  In compliance with NCUA's Jan. 27 rule on financial literacy for directors, state leagues are revving up their 2011 training and education programs.

• Boards Must Be Financially Savvy

  December 22, 2010

  ALEXANDRIA, Va.-- Board members of federal credit unions will only get limited exemption from being sued for some of