NASCUS Training Puts State System at Forefront of Credit Union Movement

A special message from Mary Martha Fortney, President and CEO
February 2014

While the economy continues to show signs of improvement, margins remain tight in many parts of the credit union system. Daily, NASCUS talks with its credit union and regulator members and we hear the optimism and see the signs of confidence that the downturn is behind us. However, as we emerge into the recovery, we face a changing regulatory landscape that challenges both regulators and credit unions to keep abreast of a multitude of new regulations, all while facing budgets and bottom lines challenged by the downturn.

At NASCUS, we recognize the training need for both examiners and credit unions is essential. A comprehensive understanding of the critical regulatory and operational issues is of the utmost importance when it comes to achieving the compliance efficiencies that allow credit unions to optimize the resource allocation to the function. For examiners, the understanding of the new regulatory landscape improves the quality of the examination, reducing disruptions to credit unions.

By working with all of our members and partners in the credit union system, NASCUS aims to provide focused, cost-effective training to examiners and credit unions. We have had and continue to have interactive dialogue among our state regulators, state credit unions, state credit union leagues and other supporters of a strong state system, and we continue to defend and advance the system, which is best accomplished when regulators and credit unions work together.

NASCUS recognizes that credit union supervision is a balancing act between safeguards that protect members, and flexibilities that allow credit unions to run their businesses. All of our training is designed and conducted to further the goal of achieving the aforementioned efficiencies for the improvement of the credit union system.

Understanding that regulators have remained focused on the performance of credit union boards, we continue to offer our popular Directors Colleges, such as the upcoming events on April 30, May 20 and June 3, in Seattle, Wash., Charlotte, N.C., and Appleton, Wis., respectively. Presented in partnership with the state regulator, these schools cover a wide array of critical subjects, and provide a forum for directors and the state regulator to dialogue and discuss expectations, which will cover issues of importance to the state credit union system.

We know that interest rate risk remains a primary concern for regulators, and the NASCUS Washington Examiners Forum, which will be held May 6-8 in Seattle, Wash., and hosted by NASCUS and the Division of Credit Unions, will focus on asset/liability management (ALM), including how to dissect ALM interest rate models, specialized lending focusing on indirect lending controls, private student loans, loan participations, and subprime lending.

NASCUS will also bring examiners and credit unions together for a broader look at key regulatory issues at the annual State Regulatory Symposium, May 6-8, in San Francisco, Calif.

NASCUS has also been working with several state regulators to hold industry days, bringing together all of the state’s examiners and state-chartered credit unions. These events allow focused discussion of state-specific issues, as well as national regulatory trends.

This year we will be holding our 10th Annual NASCUS/CUNA BSA Conference! For the past decade, we have partnered with CUNA to provide the largest credit union-specific BSA training conference in the country. This year’s event, Oct. 26-29 in Las Vegas, Nev., will once again bring together BSA compliance officers, state and federal examiners, industry experts and regulators for discussion, networking and education on BSA compliance issues. This annual conference covers all of the BSA statutory and regulatory training requirements that compliance professionals need in order to comprehend and comply with the complex federal BSA law.

NASCUS is THE VOICE for the state credit union system. We are here, as our mission states, “to enhance state credit union supervision and to be an advocate for a safe and sound credit union system.” We work diligently to support the state charter every day. Our combined examiner and credit union training programs are one of the pillars of efforts to support the state system, and as we move forward, we will continue to offer this precision training that allows the state system to stay at the forefront of the credit union movement.

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