June 2013 – May 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.
Premier Wine Tasting Event!
Dress: Black Tie Optional/Dressy Dinner-Cocktail Party Wear
Cost: $100 per person ($75 for Young Professionals)*
*If you would like to assist our political action committee with your payment to this event please contact Kelly Fuhlbrigge. Otherwise, credit union checks can be made out to Credit Union League of CT. Payment can be made the day of the event.
Click for event registration form and hotel discount information.
Please FAX registration forms to Susan O’Loughlin at 203-294-4882 or email them to firstname.lastname@example.org. Thank You!
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
We are pleased to announce the 2014 Compliance Training Workshops and Webinar series. Hosted by the Credit Union League of CT and facilitated by the experts at M&M Consulting, LLC, these training workshops and webinars will provide comprehensive understanding of upcoming regulatory changes and assist in providing exciting solutions to the regulatory difficulties Connecticut credit unions are faced with.
This year, in an effort to maximize the benefits of this invaluable guidance, the league will provide the opportunity to attend the webinar portion of the series from the convenience of your credit union. As always, the league is happy to provide the webinars at our office in Meriden at no cost to our affiliated credit unions. If however, you are interested in attending from your credit union, the registration fee is $89.00 per webinar/per incoming telephone line. You may have as many employees who wish to take advantage of any particular webinar attend from your credit union provided they are on the same telephone line for this small cost. Registration to attend either option is required.
M&M Consulting, LLC experts will also serve as facilitators in the Workshop portion of this series. These experts are secure in their knowledge, and confident of their ability to convey pertinent compliance information. Affiliated credit unions will leave our Workshop training sessions with an understanding of how to meet the challenges they face in today’s regulatory environment. The workshops are available to our affiliated credit unions at no additional cost. Dates will be announced and registration is required.
The first webinar in the series focuses on the confusion around the new mortgage regulations. It is scheduled for Wednesday, March 5th 9:00 am – 11:00 am and will provide comprehensive understanding on how these rules affect the mortgage products and services you provide your members, as well as how to comply with the regulations. This is a great opportunity to obtain additional guidance now that the rules have taken effect and the need for implementation grows with more intensity.
See registration flyer below,