May – June 2013
Start the afternoon with 9 holes of golf at a terrific course for just $100 per foursome, ($35 individually), in addition to your dinner choice. Prizes for the top three lowest scores to be awarded that night.
Tee times starting at 1:45 p.m. Non-Golfers Welcome!
Contact Fred Brown to set tee time: 860-646-8870, ext. 121 or firstname.lastname@example.org
Checks need to be received no later than May 9, 2013. Please include your foursome, phone number and desired tee time. Tee times will be confirmed.
- Social Hour – 5:30 p.m. – Cash Bar
- Dinner – 6:30 p.m.
- Program – 7:30 p.m.
Nick Moalli, VP Credit Union Services, CU League of Connecticut, will speak on the Bank Secrecy Act. Encourage your employees to attend.
- Prime Rib au jus – $36.00
- Breast of Chicken, Apple Stuffing – $29.00
- Baked Stuffed Shrimp – $35.00
Soda/Iced tea included.
***Please Bring a Raffle Prize***
*Checks should be received no later than May 9th.
Nutmeg State FCU
521 Cromwell Ave.
PO Box 66
Rocky Hill, CT 06067.
Please reference “BSA”
More information to come….
- 5:30 Cash Bar
- 6:30 Dinner
- 7:45 Meeting
- 8:00 Speaker
Judy Britt, Training & Compliance Coordinator, CU League of CT
Buffet Dinner – $36.00 per person
Includes Baked Scrod, Tenderloin Beef Tips, and Vegetarian Lasagna.
Click for the meeting Registration Flyer. [to come]
Registration Deadline: Friday, May 17, 2013
Young Professionals are always welcome to attend!
Seasons FCU is sponsoring the attendance of up to 5 Young Credit Union Professionals at Chapter meetings throughout 2013.
Please extend the invitation to any young professional at your credit union!
Make checks payable to Moran/Nixon Chapter of CULCT.
MiddConn Federal Credit Union
213 Court Street, Suite 101
Middletown, CT 06457
NCUA’s Letter to Federal Credit Unions #11-FCU-02, issued in February of 2011, requires that directors of FCUs “must have at least a working familiarity with basic finance and accounting practices, including the ability to read and understand the credit union’s balance sheet and income statement.”
It continues, “A director must understand these financial statements to participate in a meaningful manner in the direction and control of the institution.”
This session will be for NEW DIRECTORS who have joined your board since the last required training in the fall of 2012. This will be a two-hour session from 5:00-7:00 p.m. Sandwiches will be served. There is no cost to attend.
Topics will include:
• Balance sheet and income statement basics
• What does ‘off balance sheet’ mean
• The importance of trend analysis (tables or graphs)
• Key financial ratios
• What does ‘accrual accounting’ mean
• Delinquency reporting
• What is the Allowance for Loan and Lease Losses contra asset account and how is it related to the Provision for Loan and Lease expense
• NCUA 5300 quarterly reports
• Budgeting and ALM basics
• The risks: credit, liquidity, interest rate, compliance, strategic, transaction, and reputation
• Peer analysis
• Internal controls
• Asking the right questions