I want to thank Paul Gentile for his Dec. 6 column regarding directors and the importance of them knowing financial basics. He made several good points. Anyone serving as a director of a credit union should be familiar with Public Law 10173, the Financial Institutions Reform, Recovery and Enforcement Act (FIRREA). I remember a Texas Credit Union League training session conducted by Mike Blalack on the subject of FIRREA. He drove home the point of director's "due diligence". The National Credit Union Administration's examiner guide states that directors have four basic responsibilities: 1. Select qualified management and evaluate management's performance. 2. Establish, regularly review, and revise as necessary business goals, standards, policies, and procedures. 3. Review operating results and performance of new and existing activities. 4. Ensure compliance with applicable laws and regulations, and the credit union's own policies and procedures. How each director tends to these responsibilities is their own style. I agree with your statement that the director's responsibility is to understand the story. In order to gain understanding, questions may be in order. Robert E. Sheppard Director Red River Employees Federal Credit Union Texarkana, Texas