An NCUA federal regulation requires all new directors to become “financially literate” within six months of joining the board.  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.  Each director, regardless of background, has an obligation to understand the credit union’s financial condition. (While this regulation only applies to federally-chartered credit unions, the information presented will benefit state-chartered credit unions as well.)

This webinar will help you understand what balance sheets and income statements really mean.  Important ratios which should be monitored during the course of the year will be covered.  You will also gain a deeper understanding of the relationship between profit and capital, and why both are important.

HIGHLIGHTS

WHO SHOULD ATTEND?

This informative session will be beneficial for directors, Supervisory Committee members, other volunteers, volunteers in training, CEOs, managers, senior management personnel, and other staff.