June 2013 – February 2014
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
The Truth in Lending Act (TILA) and the implementing regulation, Regulation Z, is a significant part of lending compliance. This session will be an introduction to TILA and Regulation Z, covering definitions, open-end loan disclosure requirements, closed-end loan disclosure requirements, as well as the special requirements for mortgages and credit cards. Attendees will learn the basics about compliance with this significant lending law.
Click for the Registration Flyer.
These webinars will be placed on the League’s member-protected area of the website.
E-Banking and Information Security Compliance
Speaker: Kris Buckley, President, Buckley Technology Group
Buckley Technology Group assists credit unions and other financial institutions with the technology and regulations specific to the financial services industry.
This event will cover a number of online banking compliance topics including:
-Electronic Banking Threats and Security
-Opening and Maintaining Accounts On-line
-Remote Deposit Capture
For more information or to register click for the registration form.
“CFPB Mortgage Regulations Updates” Training Session
9:00 –11:30 Attorney Robert Rutkowski
Mortgage Loan Originator Rules, Escrow Accounts and New Requirements Based on CFPB Rules and Mortgage Servicing Rules Update. Rob’s presentation will be comprehensive and cover many of the rules that will be changing in 2014 and 2015.
Lunch 11:45 – 12:30
12:30 – 1:30 Elizabeth Ellis, CFPB
CFPB overview of changes to Mortgage Regulations
1:30 – 2:45 Roundtable/Panel Discussion
Hear what other credit unions are doing to prepare for 2014! Bring your questions!
3:00 – 3:30 Attorney Jay Hershman
New HUD Closing Statements
CFPB Vendor Compliance Update
3:30 – 4:30 Michael Savenelli SR, BCI Financial Corp
Product update, CFPB changes and how they affect Reverse Mortgage process.
Please email Sue at email@example.com to register or fill out this registration form.
WHAT YOU NEED TO KNOW TO
BE COMPLIANT AND MITIGATE LOSSES
Stay up-to-speed on the ACH Exception Process with NEACH’s upcoming session
ACH Exception Handling for RDFIs
February 11, 2014
2:00 PM – 3:00 PM
When an ACH payment is unable to be processed, the result is an “exception item”. This session is an in-depth view of the ACH exception process from the view of the RDFI. For RDFIs, improper handling of exception items may lead to losses or major compliance violations. This session will review the various and numerous exceptions for RDFIs and address the proper steps in handling each item.
|HOW TO REGISTER for NEACH Education:
NEACH members: Register at the member price of $195 for single events.
Non-NEACH members that are affiliated with the League: Register at the reduced price of $220, a $75 discount off the non-NEACH member price of $295. Registration can be completed on the NEACH website, non-members must use promotion code-CTLEAGUE to receive the discount, and a link to the registration form is also is included in the email.
Register online at www.neach.org/education or download the registration form and fax to 781-338-9627.
Summary of Event Fees:
• NEACH Members – $195 per event
• Non-NEACH Members(CT CU League Member) – $220 per event
• Non-Members – $295