MADISON, Wis. (6/4/13)--CUNA Financial Management Schools, Aug. 11-15 in San Francisco, give credit union managers and chief financial officers, the opportunity to manage a credit union's finances first-hand without the risks involved in making real-life, complex financial decisions.
In an asset-liability management simulation, credit union financial management professionals will work through the details and decisions involved in running a financially successful credit union.
"The Stanford Bank Game simulation has been a great addition to the Financial Management School's curriculum," said Brad Covey, Credit Union National Association manager of Web course development. "It allows students to test new strategies and ideas, without fear of causing real damage to their credit union's finances."
Parts 1 and 2 of the school involve working with a team to address the problems that arise in the simulation and competing against other teams to gain experience working in a competitive marketplace. Expert speakers, including Steve Rick, CUNA senior economist, will augment the financial management lessons learned through the simulation and prepare attendees to successfully manage their own credit unions.
CUNA Financial Management Schools are offered in three parts:
- Part 1--All staff members involved in the financial decision-making process at their credit union can attend Part 1, which includes financial ratios, asset liability, financial management, investments and forecasting.
- Part 2--This part will be a continuation on the themes and theories discussed in Part 1, with the financial scenarios gradually becoming more advanced. Financial theories discussed will move beyond the introductory stages and touch upon high level decision making such as strategic financial forecasting for long-term growth. Past participants include CEOs, chief financial officers, vice presidents and other senior management positions.
- Part 3--This part is designed for advanced financial management professionals and departs from the ALM simulation structure of Parts 1 and 2. Part 3 attendees will work through issues specific to their own credit unions in discussions with a supportive group of educated peers and industry experts.