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Wisconsin Credit Union Foundation

Financial Literacy Fundamentals for New Directors: Financial Statements, Key Ratios & How to Monitor Your Credit Union

This webinar will look at important ratios every CU should have on their dashboard. Attending this webinar will ensure you know what capital is, where it comes from, and how much is needed. A spread analysis will demonstrate how your CU is making its profit, whether it is improving or declining, and why.

Jun 10, 2019 02:00 PM   -­­  Jun 10, 2019 03:30 PM
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Type of Event
Webinar

Who Should Attend
  • Webinars
  • Board Member

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Description

How’s your credit union doing? As a board member, you have an obligation to know and understand how your credit union performs financially. In today’s demanding environment, it is not enough to come to meetings and trust that other board members understand the financial statements and ratios; or that if something is amiss, the CEO will let you know. According to NCUA Reg. 701.4, each director, regardless of background, has an obligation to understand the credit union’s financial condition. Newly elected directors have six months after election to become financially literate. (While this regulation applies to federally-chartered credit unions, the information presented will benefit state-chartered credit unions as well.)

This webinar will look at important ratios every CU should have on their dashboard. Attending this webinar will ensure you know what capital is, where it comes from, and how much is needed. A spread analysis will demonstrate how your CU is making its profit, whether it is improving or declining, and why. Join us to gain a better understanding of how to monitor whether your credit union is on track, improving, or weakening.

Learning Objectives

  • Capital: what it is, where it comes from, and how much you need
  • How much profit your not-for-profit credit union actually needs
  • Five puzzle pieces of profitability and how to monitor them
  • Why your business model can affect what results to expect
  • Learn what is more useful than peer comparisons to determine if your credit union is succeeding

Speaker

Tim Harrington, CPA, TEAM Resources

Investment

$259.00

Live and recorded webinar, handouts, quiz with answer key and training log are included.