Financial Literacy Training for FCU Board Members

This month’s Compliance Essentials class features a guest speaker: Stephen Nelson, EVP, Credit Union Support at the Utah Credit Union Association.

NCUA’s fiduciary rule sets the expectation that federal credit union board members become financially literate within six months of their election or appointment. Although this is a requirement specifically for Federal Credit Union Boards of Directors, many credit union employees will benefit from knowing this information:

• Directors of a credit union should have a good foundation in how the financials work. Else, how will they know if the credit union is doing well or in danger, and make appropriate decisions?
• In this training, we’ll review the requirement for board financial literacy, as well as put you through the course. You’ll learn about the balance sheet and income statement, and important ratios to help gauge the health and progress of a credit union.

Time: 10:00 AM – 12:00 PM

Location: Online only. (Zoom links will be provided to registrants prior to meeting)

Cost: This class is FREE to all member credit unions