Twenty-two senior credit union executives recently attended the inaugural meeting of a CUNA Brokerage program to gain more knowledge on managing and growing integrated investment and insurance programs.

Held in Las Vegas, the Program Leadership Institute's curriculum tracks included general program management, managing, motivating and working with financial advisers, marketing, operations and technology and general industry knowledge.

“The meeting reinforced the importance of adviser programs, discussed challenges facing the industry and opportunities they present, especially with helping retirees,” said Tom Brock, EVP at the $1 billion Altra Federal Credit Union in Onalaska, Wis. “The chance to meet and hear ideas from other credit union program champions and managers was very valuable.”

Credit unions only attract around 3% of their members' investment dollars, while 46% of members have investment accounts elsewhere, said Hendrix Niemann, managing director of wealth management at CBSI, citing 2012 data from the Filene Research Institute.

Investment and insurance products represent the largest potential untapped source of member-friendly, noninterest income for credit unions, Niemann noted.

“We understand that many of the credit union executives tasked with supervising the investment program may have little knowledge or experience in the investment world, and many also have 'day jobs' elsewhere in the credit union,” Niemann said.

He added, “Therefore, the curriculum for our Program Leadership Institute is constructed to include content and material applicable to every program manager and champion, regardless of knowledge or experience.”

Delivery of the institute's curriculum happens in traditional face-to-face meetings, via live facilitated webinars, and through interactive self-paced online courses, according to CBSI.

Instant Insights /

Credit Union Execs Hone Investment, Insurance Skills

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