Board Education Remains a Priority for State Regulators and NASCUS

A special message from Mary Martha Fortney, President and CEO,
September 2011

As the nation recovers from an unprecedented economic downturn, credit unions are carving out an even more central place in the financial lives of American consumers. As they have since the 1908, credit unions are finding innovative ways to meet member needs by providing essential consumer loans and business services to developing unique loan modifications to keep members in their homes. Such innovation starts with the informed leadership of credit union board members across the country.  

As any credit union manager or board member will tell you, with growth comes increased regulation, compliance and complex operations. At the same time, Congress and the various federal and state regulatory agencies are keeping a keen eye on all aspects of financial institutions, including how they are regulated, in an effort to keep the nation from experiencing another devastating downturn. As such, the credit union directors' job is more complex than ever.

Since 2008, NASCUS has worked with state regulatory agencies to provide essential regulatory, compliance and board education from the regulator's perspective to Boards of Directors. The goal of these educational programs is to increase credit union directors’ understanding of the expectations regulators have of them, as well as to enhance their knowledge of various compliance and regulatory obligations. Sessions include education on topics such as credit union director duties, responsibilities and training, responding to exam findings and critical compliance and regulatory issues.

NASCUS has held more than a dozen Directors Colleges since 2008. Our one-day Directors Colleges continue to provide valuable training for directors and we have several more colleges planned in the near future. The schedule to date is below. We'll continue to add to these sessions so check back to the NASCUS Web site for up-to-date opportunities.

If your state agency would like to partner with NASCUS on a directors training opportunity, please contact Jenny Champagne at jenny@nascus.org.