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News Archive

Directors: to be an MVP, Convention is the spring training you can’t miss!


There's no room for directors to swing and miss in today's competitive financial services market. To be your board's MVP you have to get in shape at Convention - your spring training ground! Get a competitive edge with sessions geared specifically for you. You'll earn a certificate of participation for attending our directors' financial education sessions.

Breakouts that every director should attend include:

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  • Disaster Recovery and Preparedness. Miller Park has a roof to keep the field safe and dry. But with credit unions, there are far more potential disasters than the weather that could disrupt member service, cause massive financial losses and permanently damage your credit union's reputation. As director, you're entrusted to ensure a plan is in place to keep your business humming no matter the threat, no matter the damage. This session, by Steve Eckes, Risk Management Consultant for CUMIS Insurance Society - the property and casualty company for CUNA Mutual Group - will cover business continuity and contingency planning, where to start, managing responsibility for and assessing your plan, things to remember, the role of insurance, and testing your readiness.

 

  • What Directors Need to Know About CU Financials. Do you understand how use the financial information you receive in order to draw conclusions and provide direction for your credit union? Although at this time state-chartered credit unions are not required to follow NCUA's basic financial literacy requirements for federal credit unions, the state Office of Credit Unions is recommending improved skill in this area as a best practice. The League's Senior Consultant Bill Rockeman, formerly the CFO of a $90 million credit union who has 8 years of experience as a CU Board member and 3 years as a Board Chairman, will get you around the bases you need to cover: the balance sheet, income statement, allowance for loan and lease loss, key ratios and common questions you should be asking to guide your credit union team mates. You'll earn a certificate for completion of this valuable session.

 

  • What Directors Need to Know About CU Financials - Part II.  Here's where the bat and ball make contact. Apply the knowledge gained from Part I to actual credit union financial statements and see how much you can conclude. You'll determine what questions you  need to ask, examine key ratios and spot trends as well as potential areas of concern as part of your analysis. Every good player needs a warm-up: this is your chance to flex your muscles long before you're asked to step up to the plate! This session also offers a certificate of completion.

 

  • Economic & Credit Union Industry Update. David Colby, Chief Economist for CUNA Mutual Group, will offer a thought-provoking discussion of the latest consumer-oriented economic forecasts. He'll share a wealth of best practices to help credit unions stay in the game - and even make a few home runs - despite economic predictions that are sure to challenge any credit union. You'll discover what some of the most successful credit unions in the country are doing to weather the slump every pro has to face.

 

  • Asset/Liability Management. Every ballgame is won or lost before it is ever played. If you don't have a strong command of your credit union's income and expenses you're sure to strike out. Ashish Tripathy of the Federal Home Loan Bank of Chicago will explain how you can enhance earnings within the framework of your credit union's goals and risk appetite. Learn the basics of ALM as well as a framework for monitoring rates, spreads, volatility and economic variables. Gain insights on interest rate and credit risk management, and learn the best strategies for liquidity risk management and liquidity contingency planning.

 

  • Looking Back & Forward: The CEO performance appraisal. A credit union’s CEO has the most direct impact and influence on its growth, financial performance and overall success. Therefore, setting goals and performance standards with the CEO and then objectively and fairly evaluating the CEO’s performance and relationship with the Board are among the most critical responsibilities of the Board of Directors. Implementing a regular and formalized evaluation process—and using it—will encourage communication, save time, and lead to enhanced CEO, Board, and credit union performance. And it will make the regulators happy! Joanne Whiting, The League's EVP and Chief Advocacy Officer, will teach you to use the CEO appraisal to cultivate a winning team.

 

  • Your Regulator's Persepective. The big leagues have a commissioner of baseball who ensures the rules are followed. Among state-chartered credit unions, it's the Director of the Office of Credit Unions, Ginger Larson, who calls the shots. She'll provide an overview of the state and federal regulatory and compliance matters that you need to manage so that examiners don't cry "foul"!

 

  • Duties, Liabilities and Protections of Credit Union Directors. When it comes to your credit union, you have to be the umpire - making the difficult calls that are required to keep play ethical as well as ensure positive momentum for your team. This session, led by The League's Legal Counsel—Paul Guttormsson—will explore the fiduciary duties that directors owe their credit union and its members, and the various laws that protect directors from liability.

 

Beyond these, there are even more important breakouts you'll want to attend!

 

Reserve your hotel room  and register for Convention today!


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