In compliance with NCUA's Jan. 27 rule on financial literacy for directors, state leagues are revving up their 2011 training and education programs with a reliance on both in-person visits and webinars, even employing a branding vehicle to draw volunteer participation.
For one, the New Jersey Credit Union League has already labeled its expanded director education programming, the New Jersey Directors Network Alliance, with an "inaugural in-person meeting" set for Jan. 13 in Woodbridge for all New Jersey volunteers.
Under the NCUA rules, new CU directors must have an understanding of "basic finance and accounting practices" and will have six months to meet agency standards. NCUA has said it will be offering training via workshops through its Office of Small Credit Union Initiatives and CUNA has reminded CUs of its ongoing "Financial Literacy Certificate" program. CUNA will also be touching on director literacy during various upcoming seminars including a special session at the annual Government Affairs Conference in Washington in February.
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