HCUL Credit Union Volunteer Training

• Credit Union Volunteer 101
  Learn the duties and responsibilities of board and committee members, fiduciary and governance matters, and other issues.  Decisions made by volunteers today will determine your credit union's future.

• Credit Union Volunteer 102
  This session takes a deeper dive in best practices for members of a credit union's board of directors, supervisory, or credit committee.  This session benefits new and seasoned volunteers.  Because this session build on topics previously covered, completion of Credit Union Volunteer 101 is a prerequisite.

• Credit Union Volunteer 201
  NCUA Board adopted a final rule requiring all directors of federal credit unions to be financially literate.  Gain a better understanding of accounting principles and your credit union's financial statement.

• Credit Union Volunteer 202
  The focus is on more detailed analysis of credit union financial performance, including case studies of real credit unions.  This session helps hone skills to better analyze your own credit union's financial condition and operating performance.  Because this session builds on topics previously covered, completion of Credit Union Volunteer 201 is a prerequisite.

• Bank Secrecy Act
  Boards need to understand the importance of Bank Secrecy Act (BSA) regulatory requirements, ramifications of noncompliance, and risks posed to the credit union.  Learn what can happen if the credit union does not comply with BSA, the U.S. Patriot Act, and the Office of Foreign Assets Control.

CUNA Board Financial Literacy Certificate Kit
NCUA passed a rule that requires federal credit union volunteers to demonstrate a minimum level of competency in financial literacy. This kit offers extensive coverage of financial literacy topics for credit union volunteers. Included are all six of the CUNA Board Financial Literacy Certificate modules and exams. By successfully passing the exams for each module, you will earn your CUNA Board Financial Literacy Certificate.

 

  CUNA Volunteer Achievement Program
VAP self-study courses teach the philosophical and financial topics that board members and other volunteers need for their decision-making responsibilities. VAP is your credit union's key to strengthening the knowledge of volunteers on a wide range of topics from financial management to compliance to strategic leadership. Click here to select your training format (printed, online, or ebooks).  Click here for a list of certifications.

  CUNA Volunteer Certification Program

Volunteers face several responsibilities, and meeting those responsibilities requires a firm grasp on credit union operations and board leadership as well as the credit union movement as a whole. With CUNA Volunteer Certification Program, you can become the expert board or committee member your credit union needs. Designed to create confident, strategic credit union leaders, this program gives volunteers the expertise and decision-making skills that are expected of them and allows them to earn our premier volunteer designation, Certified Credit Union Volunteer (CCUV). As a enrollee, you're empowered by choices. You decide whether to earn your designation in person at our face-to-face school or through self-study. Either way, you're connected to industry experts who will provide you with insights on your role as a credit union board member.

  

NCUA Duties of Federal Credit Union Boards of Directors
Certain provisions of NCUA final rule 701.4, General authorities and duties of Federal credit union directors, took effect on January 27, 2011. The purpose of this rule is to clarify and document the important duties of boards of directors of federal credit unions. This letter provides general information about directors’ duties, specifically focusing on the financial skills requirements which will take effect on July 27, 2011.

• General duties of directors
• Basic financial skills required
• Guidance on other director duties

Click here to download the full text in PDF format

NCUA Requirement
A requirement was issued by the NCUA imposing a new financial literacy rule. The mandatory level of financial literacy will depend upon each individual credit union’s complexity.

This requirement was issued as a result of an increasingly more complex financial industry landscape. Additionally, there has been a heightened concern over credit union losses and an escalation of sophistication of credit union finances. The NCUA would like to ensure that federal credit union directors have a sufficient working knowledge of their credit union’s financials going forward.

The significant points of this rule include:

• Directors must have at least a working familiarity with basic finance and accounting practices
• Directors must have the ability to read and understand their credit union’s balance sheet and income statement
• Directors must be able to ask, as appropriate, substantive questions of management and the internal and external auditors

NCUA Board of Directors Videos

• Board of Directors 1: What Every Board Member Should Know
• Board of Directors 2: Credit Union Policies and Procedures
• Board of Directors 3: Mergers
• Board of Directors 4: Succession Planning
• Board of Directors 5: Understanding the NCUA Examination
• Board of Directors 6: Strategic Planning
• Board of Directors 7: Understanding Financial Statements
• Board of Directors 9: Effective Board Meetings
• Board of Directors 8: Understanding Key Ratios

NCUA Supervisory Committee Videos

• Supervisory Committee 1:  Overview
• Supervisory Committee 2:  Monitoring Management Activities
• Supervisory Committee 3:  Annual Audit
• Supervisory Committee 4:  Verification of Members Accounts
• Supervisory Committee 5:  Handling Member Complaints
• Supervisory Committee 6:  Resources