Press
795 Credit Union Directors Earn CUNA Board Financial Literacy Certificate in 2011
Mark Wolff
CUNA Communications
(202) 508-6764
mwolff@cuna.coop
Amy Nigrelli
CUNA Marketing
(608) 231-4246
anigrelli@cuna.coop
Madison, WI (November 9, 2011) – CUNA is proud to announce that 795 credit union directors and board members, from 257 credit unions, have earned their CUNA Board Financial Literacy Certificate in 2011. This certificate was created by CUNA as an effort to help credit union board members stay compliant with the new NCUA requirements and keep abreast of the latest regulatory changes.
The certificate will continue to be offered in 2012 and can be earned after successfully completing exams associated with one of the following four tracks:
1. Attend either the CUNA CU Finance for Non-Financial Managers & Volunteers School this April 22-25, 2012 in Orlando, FL or the CUNA Volunteer Certification School September 23-28, 2012 in Long Beach, CA.
2. Attend the CUNA CU Finance for Non-Financial Managers & Volunteers eSchool beginning May 8, 2012.
3. Complete six self-study CUNA Volunteer Achievement Program (VAP) courses including: Financial Reports for Volunteers, Managing Risk for Volunteers, Financial Management, Asset-Liability Management for Directors, The Basics of Risk Assessment for Volunteers, and Understanding Audit Reports.
4. Book an in-house training session.
After completing the designated track, applicants must pass the appropriate assessment(s) to earn the CUNA Board Financial Literacy Certificate.
As a result of an increasingly more complex financial industry landscape, new NCUA requirements were issued in order to ensure that federal credit union directors had a sufficient working knowledge of their credit union’s financials. The NCUA now requires directors to comply with educational benchmarks that confirm they have at least a working familiarity with the basic finance and accounting practices of their credit union.
For more information on the new NCUA regulations or certification visit http://www.cuna.org/training/boardreq/index.html#ncua