Four ways to get ahead with credit union training

The fiscal year-end is closer than you think, and many credit unions are already looking at their budgets for 2017. While you assess what new products and services you will offer, and how much to put aside for IT and advertising, don’t forget to budget for your training needs.

The need for training is a constant in the credit union industry; as with everything else, you’ll be better off if you plan in advance for it. Here are some things to consider making sure you’re planning your training effectively:

• What methods typically work best for your team? Is it better to do separate training periods for each division or does the work of each division overlap to the point where everyone needs to be included at the same time? Do your staff members prefer webcasts or blog posts to get new information? Do they have suggestions about what might work better?
• What new regulations are expected in the year ahead? What’s on the agenda for CFPB and NCUA? How will those rules impact your products and members? A recent webcast on upcoming changes and proposals from NAFCU’s regulatory compliance team might help you prioritize what topics need the most attention from your staff in coming months.
• What about your staff’s certifications? Are any coming up for renewal? Get ahead of it by scheduling time for training and certification now. NAFCU has information on how to earn and maintain certifications related to compliance, risk management, the Bank Secrecy Act and volunteer duties in its Online Training Center.
• In what areas do you need to improve? Cybersecurity is quickly climbing the list of top challenges facing credit unions today. Members expect their data and funds to be safe, and credit unions must stay on top of the latest trends and threats to stay prepared.

While training plans should be tailored to your individual credit union’s needs, every credit union needs to plan for some kind of training regimen. Planning ahead will not only save you time but help create an environment in which your staff starts thinking ahead for its training needs too. If training becomes a regular part of your staff’s lives, both you and your members will be better for it.

For more guidance on what training your credit union should prioritize, check out NAFCU’s 2017 conference lineup. It provides everything you need to put together a great training plan using the best credit union education available. Still to come this year, credit union professionals can brush up on important compliance skills at NAFCU’s BSA Seminar and Regulatory Compliance Seminar in New Orleans, from Oct. 24-28. Also, a recent addition to the lineup is a second location for NAFCU’s popular Regulatory Compliance School: now in addition to School being offered in April in Arlington, Va., credit unions on the West Coast will have a more nearby option in October in San Diego.

You can also take advantage of NAFCU’s Online Training Center, whose products can provide you with “anywhere, anytime” compliance training for your compliance team, or give your board a solid understanding of their role.

NAFCU’s compliance team is also constantly updating its publications – from the Compliance Blog to BSA Blast – to make sure association members are aware of the latest news. Even if you’re not a NAFCU member, you can browse through the latest Compliance Blog entries to see if they give you any new training ideas for 2017. And you can always call me or NAFCU Director of Regulatory Compliance Brandy Bruyere for more guidance to get you started.