VAP Certificate Program
VAP Content and Course Descriptions
The Volunteer Achievement Program is intended as quick-reading courses that provide the core knowledge that directors and volunteers need.
| VAP Topics | |
|---|---|
| Board of Directors Fundamentals | CU Fundamentals |
| Leadership | Finance |
| Human Resources | Credit Committee/Lending |
| Marketing | Planning |
| Regulatory Compliance | Supervisory Committee |
| Technology | |
Online Exams available at https://www.cuna-cpd.org/sumtotal/lang-default/SYS_login.asp.
BOARD OF DIRECTOR FUNDAMENTALS
|
Board of Directors, Duties and Responsibilities, 4th edition |
 |
Course Overview:
Board decisions influence the savings and credit opportunities available to members. As a volunteer
serving on the board, you are responsible for the course your credit union takes. Realistically, the
directors share management duties with the individuals hired to oversee daily operations. But in the
eyes of the law, the board holds ultimate responsibility for guiding your credit union. This course
presents the major board responsibilities and gives you the tools and knowledge to perform your
duties.
Contents
- Structure of the Board
- Major Board Responsibilities
- How the Board Directs the Credit Union
- Board and Management: Two Elements, One Team
- Specific Board Responsibilities
- Legal and Regulatory Considerations
- Communication
- Board Effectiveness
|
Board Policies, 5th edition |
Course Overview:
As credit union business, and the financial industry as a whole, becomes more complex, the role of
policies increases in importance. However, the line between directors’ and managers’ responsibilities
in policy making has become blurred. This course will help define these responsibilities and explain
how policies benefit the board, management, employees and members. Note: you may find it helpful to
complete Planning (V102) prior to this course.
Contents
- Perspective on Policies
- Writing Policies
- The Policy Manual
- Implementing Policies
- Benefits of Policies
|
Directors’ Liability, 3rd edition |  |
Course Overview:
One of the main goals of the board is to avoid any situation or action that could give rise to a
lawsuit. This course will help you gain a greater understanding of the legal duties and
responsibilities directors owe the credit union and their fellow members. It is intended to make you
aware of some of the regular practices of the credit union that may be taken for granted, which could
give rise to a lawsuit.
Contents
- Directors’ Responsibilites/Powers
- Parameters of Directors’ Liabilities
- Why Are Credit Unions Sued?
- Who Might Sue?
- Limits on Liability
- Avoiding Liability
|
Board Reports, 2nd edition |
Course Overview:
To adequately perform your function as a credit union volunteer, as well as to minimize the risk of
lawsuit, you must regularly attend and actively participate in board meetings. Upon completion of this
course, you will be able to identify major types of financial reports that should be included in the
monthly board packet, as well as their purposes. You will also understand the need for and major
components of other types of board and committee reports.
Contents:
- Using Reports Effectively
- Major Financial Reports
- Major Management Reports
- Major Committee Reports
|
Developing, Writing and Implementing Policies |
Course Overview:
This course builds on the learning objectives presented in Board and Management Policies (V101).
Developing, Writing and Implementing Policies provides a more in-depth treatment of how to develop,
write, and implement policies. Examples of successful policies are also given.
Contents
- Director’s Role in Policymaking
- Effective Policies
- Policies Required by Regulation
- Policy Development and Implementation
- Policy Maintenance
CREDIT UNION FUNDAMENTALS
|
History and Philosophy, 4th edition | |
Course Overview:
After completion of this course, you will be able to: explain the origins of credit unions, explain the
significance of field of membership, discuss the importance of financial deregulation, and discuss the
current challenges facing credit unions.
Contents
- Credit Unions as Cooperatives
- The Origins of Cooperative Credit
- Cooperative Credit in North America: The Early Years
- The Movement Gains Momentum
- Years of Growth and Change
- An Outline of the U.S. Credit Union Movement
- Current and Future Challenges
|
Financial Reports, 4th edition | |
Course Overview:
Understand your financial reports with these easy to follow explanations of the statement of financial
condition, statement of income and other financial reports. This course also explains the importance
of trend analysis and instructs how to calculate important ratios.
Contents
- Basic Financial Statements
- Other Financial Reports
- Ratios and Trends
|
Managing Risk, 5th edition | |
Course Overview:
Risk management is the direct responsibility of credit union officials. Volunteers who are involved
with risk management must be concerned with all risks, insurable or not, which may affect the credit
union. This course covers identifying, handling, and monitoring risks. <1>Managing Risk also
includes plans and procedures for internal controls, identifying the role of a supervisory committee
and explanation of when outside assistance is required. An extensive checklist of internal credit
union controls is also included.
Contents
- Risk Management and Insurance
- Need for Internal Control
- Effective Supervisory Committees
- Use of Outside Assistance
- Annual Audit and Examination Reports
- Complete Internal Control Checklist
LEADERSHIP
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Recruiting, Orienting, And Retaining Board Members |
Course Overview:
Finding and keeping competent board members has been a concern since the first credit union. This
course will focus on recruitment, interviewing and selecting, development, orienting, needs assessment,
training opportunities, and volunteer retention.
Contents
- Finding and recruiting volunteers
- Volunteer selection and interviews
- Volunteer orientation
- Needs assessment
- Training opportunities
- Retaining volunteers
|
Political Involvement |
Course Overview:
Favorable legislation and regulation are as important to credit unions as day-to-day operations and
services. In this critical area, directors and volunteers help ensure a long-term strategic future.
This course describes leadership roles in political involvement and regulatory advocacy, and it shows
each credit union how to make political involvement a top priority.
Contents
- Importance of political involvement
- Elections: money and votes are the keys
- Grassroots activity and lobbying
- State governmental affairs
- Communications
|
Strategic Credit Union Leadership |
Course Overview:
Credit union directors spend a great deal of time planning and monitoring the organization’s progress
toward strategic goals. This course is designed to make that job a little bit easier. This course
discusses some of the overarching issues that make up the core of the director’s job: providing the
kind of personal leadership that ensures long-term success of the credit union enterprise.
Contents
- Leadership: Art or Science?
- The Challenge of Diversity
- Crisis and Opportunity: Leadership Issues
- New Horizons in Credit Union Leadership
- The Challenge of Change
- The Ethics of Leadership
- Ten Principles of Leadership
|
Directing Effective Teams |
Course Overview:
Credit unions face the huge challenge of accelerating change, and adaptability is the key to survival.
Exactly what the credit union of the future looks like is yet to be seen, but it’s largely up to
directors to determine it. This course describes how effective teams work. It sets out to show you
how to direct an effective team in its endeavors to make your credit union adaptable and competitive
for the long term.
Contents
- Fundamentals of Team Building
- Dynamics of Effective Teams
- Getting Started
- Team Development
- Effective Teamwork
- Assessing Performance
- Teams in Credit Unions
|
Maximizing Board Performance | |
Course Overview:
Your board, just like management, needs to work continuously to keep abreast of change and improve its
operations. This course examines today’s challenges for directors and explores specific tasks of your
board. Two tasks in particular are crucial to credit union effectiveness: 1) planning and evaluation,
and 2) managing CEO accountability.
Contents
- Your Challenge as a Director
- Focus on the Important Tasks
- The First Key—Planning and Evaluating
- Statement of Commitment: A State-of-the-Art Planning Tool
- The Second Key—Managing CEO Accountability
- Meetings
- Teamwork
- Volunteer Recruitment
FINANCE
|
Financial Management, 3rd edition |
Course Overview:
This course helps explain the financial management tools used by most credit unions in a simple, easy-
to-understand format. You will find that managing your credit union’s finances need not be
overwhelming when you consistently use several comprehensive asset-liability management tools.
Contents
- Financial Management Overview
- Components of Asset-Liability Management
- Asset-Liability Committee
- Planning Tools
- Financial Reporting
- Forecasting and Budgeting
- Gap Analysis
- What-If Analysis and Net Interest Income Simulation
- Net Economic Value
|
Asset-Liability Management for Directors |
Course Overview:
Though the operational aspects of ALM are management's responsibility, directors have the
duty to understand ALM's impact on the credit union, and if needed, revised ALM directions
and policies. This course will help you understand and evaluate the ALM actions taken by
management.
Contents
- The basics of asset-liability management and financial analysis
- Gap analysis
- Net income simulation
- Credit Union capital requirements
- The CAMEL system
- The impact of changing interest rates on capital
- Net economic value
- Liquidity risk
|
|
Investment Essentials for DirectorsCourse Overview:
This course helps participants understand the basic investment-related responsibilities of
the board, management and supervisory committee. It will identify the reasons for investing;
what is permissible and the types of risks involved with investing.
Participants will be able to identify the players involved in the investment market,
as well as become knowledgeable about what should be presented in the board packages for review.
Contents
- The Board/Management Partnership
- Economic, Financial Underpinnings
- Identifying and measuring investment risks
- Investment Regulations for Federally Insured Credit Unions
- Asset/Liability Management: Key to Successful Investing
- Building Successful Relationships
- Policies and Procedures
- Investment Strategies: A Discussion
|
|
Course Overview:
The course chapters explain what a budget is, how the role of the board and management
in the budgeting process is defined, how planning and budgeting are part of the same
process and how a budget based on plans is developed.
Contents
- What is a budget
- The Board's and Managing Officer's Roles in Budgeting
- The Planning/Budgeting Process
- Case Study of a Planning/Budgeting Process'
- Other Budget Considerations
HUMAN RESOURCES
|
V405 Board/CEO Relations, 4th edition |
Course Overview:
The board and management must work together as a cohesive unit. The strength of the individual credit
union depends on this relationship. This course emphasizes team building, and it describes the
elements needed to build a strong working relationship with your manager.
Contents
- Board/Manager Relations
- The Position Description
- Qualified Candidates
- The Final Selection
- The Employment Contract
- Compensation and Motivation
- Performance Appraisal
- Special Situations
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Performance Appraisal and Goal-Setting |
Course Overview:
As a director, you have four major areas of responsibility: formulating policy, communicating, serving
as trustees, and ensuring the continuity and development of the credit union. As a trustee, you must
evaluate the financial affairs and management practices of the credit union. To ensure continuity and
credit union development, a capable president/manager must be selected and provided with adequate
guidance and training. This new course will cover the key elements of CEO accountability and
performance, and the board's role in monitoring performance and setting performance goals for the
CEO.
Contents
- The roles of the board and the CEO
- The importance of shared vision and values
- The performance planning process
- Considerations involved in performance appraisal
- Two basic methods for assessing CEO performance
- Compensation
- The role of the board in the continued growth and success of the credit union
|
CEO Compensation |
Course Overview:
Contents
- The CEO Compensation Environment
- CEO Compensation Philosophy
- Goal Setting and Performance Review
- Salary and Total Compensation
- Performance Initiatives
- Supplemental Retirement Plans
- Benefits
- Employment Agreements
CREDIT COMMITTEE/LENDING
|
Credit Committee: Duties and Responsibilities, 4th edition |
Course Overview:
The Credit Committee has the general responsibility for approving or disapproving all requests from
members for loans. This course will help you learn what you need to know to make your Credit Committee
as effective a part of your credit union as possible. This course also gives an overview of the
different kinds and sources of credit available to credit union members outside the credit union. You
will discover how credit unions fit into the total contemporary consumer financial scene.
Contents
- The Credit Committee
- Sources and Types of Credit
- Credit Union Lending
- Loan Policies and Legal Limitations
- Other Responsibilities and Concerns
|
Loan Granting, 4th edition |
Course Overview:
This course is designed to familiarize you with the procedures and laws involved in granting loans to
members. You need to know how to judge the creditworthiness of loan applicants, the sources of credit
information, how to check credit, how to act on an application, and about the many consumer laws that
affect loan granting and recordkeeping. This course also presents information on various loan
products.
About This Edition
The 4th edition Introduces new and up-to-date material on Board policy-making and responsibility,
especially regarding Reg B, Truth in Lending, and the Equal Credit Opportunity Act (ECOA). Introduces
material on modern loan delivery channels, including PC-based financial services and point of sale
lending. Provides a discussion of what's ahead for 21st century lending, including sections on
security, demography, and credit union infrastructure.
Contents
- Applications and Lending Policies
- REviewing the Applicants Loans
- Loan Evaluation Systems
- Acting on the Application
- Truth-in-Lending
- Equal Credit Opportunity Act
- Variable-rate Loans and Risk-based Lending
- New Delivery Channels for Loans
- Future Trends for Lending
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Collections, 5th edition |
Course Overview:
Almost anyone would rather lend money than try to collect it. This course deals with the unfortunate
side of loan granting—collection procedures for delinquent loans. Collections describes the
classification of past-due accounts, collection techniques, special delinquency problems, Soldiers’ and
Sailors’ Civil Relief Act, Fair Debt Collection Practices Act, bankruptcy overview, and amendments to
bankruptcy law.
Contents
- Establishing a Collection System
- The Basics of Collection
- Special Delinquency Problems
- Bankruptcy Overview
- Bankruptcy Proceedings
Bankruptcy, 2nd edition
Course: V407M
Course Overview:
Unfortunately, the bankrupt member and bankruptcy losses have become increasingly common over the last
ten years. This course will help you to understand the workings of the Bankruptcy Code, the types of
bankruptcies that affect credit unions the most, and terminology unique to the bankruptcy court.
Contents
- Is There a Bankruptcy Crisis?
- How Bankruptcy Laws Work
- How Bankruptcy Affects Credit Unions
- What Credit Unions Can Do About Bankruptcy
- Helping Members Steer Clear of Bankruptcy
|
Introduction to Mortgage Lending |
Course Overview:
Our rapidly changing environment has created increasingly sophisticated demands from members. To
succeed, credit unions must keep pace with technology advances and offer a growing variety of financial
products and services. This course demystifies the mortgage process and explains why real-estate
lending is vital to the success and growth of your credit union.
Contents
- Why Mortgages?
- What is Mortgage Lending?
- The Mortgage Lending Process: Originating, Selling, and Servicing
- The Risks of Mortgages
- Marketing Mortgages
- Regulations: The Rules of the Road
- Putting It all Together
|
Member Business Lending |
Course Overview:
A successful member business lending program balances risk against opportunity. It’s a complex
endeavor requiring strategy, resources, and commitment. This course covers the essential factors in
member business lending, including market potential, regulation and policies, lending expertise,
operational support, and monitoring risk. Sample policies for business lending are included.
Contents
- The Business Lending Opportunity
- Preparing Your Board for Member Business Lending
- Organizational Issues
- Developing an Business Lending Program
- Using Credit Union Strengths
- Complementary Services
- Weighing Risks and Rewards
MARKETING
|
Marketing, 4th edition |
Course Overview:
Upon completion of this course, you will be able to understand the basics of credit union marketing and
have a working knowledge of marketing terms and concepts. This course also establishes the importance
of a marketing plan and will assist you to direct and aid staff in its development.
Contents
- Understanding the Marketing Role
- The Situation Analysis: Where Does Your Credit Union Stand?
- Analyzing Your Competition and Resources
- Putting Opportunities to Work: Developing Goals and Strategies
- Your Credit Union’s Marketing Budget
- The Finished Product: A Sample Marketing Plan
- Measuring Your Success
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Marketing to Generations and Niche Markets |
Course Overview:
This module will build on Marketing (V403), which offers marketing basics for directors. Marketing to
Generations and Niche Markets offers strategies to market to youth, baby boomers, Gen X, matures, and
women. As "one size no longer fits all," this module describes what specific groups desire in
financial products and services along with strategies to meet these needs.
Contents
- Generation Marketing
- Mature Markets are Three Markets in One
- Boomers Redefine Life Stages
- GenX and Youth Market
- Women and other Specialized Markets
- Developing a Marketing Strategy for Each Segment
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Offering Credit Union Youth Programs |
Course Overview::
This course shows you how to set up a two-way communications program with your young members and
demonstrate by example why the credit union is a unique kind of financial institution. You will learn
examples and tips for developing and marketing to young people.
Contents
- Financial Literacy
- Directors’ Roles in Serving Youth
- Promoting Savings and Lending
- Marketing Geared Toward Youth
- Costs, Benefits, and Program Justification
- Getting Started: Case Studies
- Youth Program Resources
PLANNING
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Planning, 4th edition | |
Course Overview:
The single most important duty you have as a credit union director is participation in the credit
union’s planning process. This course will introduce you to the basics of planning, including the
background you need to begin the planning process. You will be able to define planning, understand the
planning process, prepare for and conduct a planning session. More advanced information about the
planning process can be found in Strategic Planning (V404).
Contents
- The Role of the Board in Planning/li>
- The Scope of Planning
- The Principles of Planning
- Planning Session Preparation
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Strategic Planning, 4th edition |
Course Overview:
This course will show how directors can help management be better prepared to deal with a long-term
future filled with potential opportunities and threats. You will learn the difference between planning
and strategic planning, what avenues are open to growth and new opportunities, and how to position the
credit union for success.
Contents
- Strategic Planning: What It Is, Why It’s Important
- Preplanning
- The Situation Audit: Internal Factors
- External Analysis and Evaluation
- Organizational and Human Resources
- The Strategic Planning Process
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Business Recovery Plans & Policies |
Course Overview:
Federal and state credit unions are required to have disaster recovery and business resumption plans.
In event of a disaster, recovery plans help determine how well and how quickly your credit union
resumes operations. This course reviews director responsibilities in developing and approving business
recovery plans and policies.
Contents
- Regulatory guidelines for Business Continuity Planning
- Developing disaster recovery plans and policies
- Testing and plan maintenance
- Participating in disaster recovery efforts
- Lessons learned from disasters at credit unions
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Growth Strategies: Pathways to Success |
Course Overview:
Strategies to grow the membership, loans, and asset base are critical to credit union survival and
success. Directors must provide leadership for growth and stability, particularly during uncertain
economic times. This course will examine the directors' role in planning, setting policy, and
evaluating growth strategies.
Contents
- Foundations for Growth
- Critical Planning Issues
- Strategies to Expand Participation
- Creating New Opportunities
- Safety and Soundness in Relation to Growth
- Measuring Progress
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CEO & Board Succession Planning |
Course Overview:
Succession planning has taken on more importance during the past few years. Nearly half of all credit
union CEOs plan to retire in the next 10 years, about one quarter of them in the next five years. A
good succession plan charts a plan of action for the board and employees that covers a variety of
situations including the death of a CEO, accidents, disability, termination, or retirement. Boards
play a critical role in succession planning by ensuring that the credit union will serve members
effectively even if key staff or directors are unable to continue in their positions.
Contents
- Board's role in succession planning
- CEO & management's role
- Ingredients of an effective succession plan
- Succession planning for the board
- Maintaining effective board leadership
REGULATORY COMPLIANCE
|
Credit Union Examinations, 3rd edition |
Course Overview:
Your credit union undergoes regular or special reviews called examinations conducted by your credit
union’s regulator and insurer. The purpose of examinations is to assess the safety and soundness of
credit unions and to determine compliance with applicable laws and regulations. In this course you’ll
learn about the officials’ involvement before, during, and after an examination; the CAMEL system used
to evaluate your credit union; and the examination process.
Contents
- Examination Background
- How to Prepare for an Examination
- Your Role During an Examination
- The CAMEL Rating System
- The Examination
- Reaching Agreements
- Answers to Your Examination Questions
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Understanding Regulations |
Course Overview:
Directors need to know more about compliance than just how to prepare for and participate in the
regulatory exam process. Since you are responsible for setting the direction of the credit union, it's
important that you understand the regulations that must be followed in the process of meeting credit
union goals and objectives. This course will expose you to the necessary regulatory requirements that
must be followed to avoid sanctions by NCUA and state supervisory agencies.
Contents
- An overview of credit union laws and regulations
- Definitions of the roles of the board, other volunteers, management, staff, and regulators
- General operational regulations
- Deposit regulations
- Lending regulations
- Miscellaneous regulations (regulations that affect only some credit unions)
- Credit union compliance programs
SUPERVISORY COMMITTEE
|
Supervisory Committee: Duties and Responsibilities, 5th edition |
Course Overview:
Supervisory committee members must have a clear understanding of procedural requirements and keep
abreast of legislative and regulatory changes that may affect the scope of their responsibilities.
This course investigates the ongoing review and evaluation responsibilities of the supervisory
committee, including data processing, the use of outside auditors, and planning for the annual audit.
You’ll also get an overview of the audit work program, conducting the audit, and the audit report.
Contents
- Structure of the Committee
- Duties and Responsibilities
- Data Processing Responsibilities
- Using Outside Auditors
- Duties and Responsibilities—Annual Audit Work Program
|
Auditing 1, 5th edition |
Course Overview:
This course presents specific steps that might be considered during the initial audit visit. You will
learn how to evaluate internal controls and examine workpapers for cash, traveler’s checks, and money
orders; the trial balance of member share and loan accounts and the trial balance of the General
Ledger. This course is intended as an instructional text, and provides general ideas in assuming your
responsibility and your work. A comprehensive list of credit union auditing and accounting terms is
included in this course.
Contents
- Overview
- Cash Count
- Travelers’ Checks and Money Orders
- Trial Balance of Member Share and Loan Accounts
- Trial Balance of the General Ledger
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Auditing 2, 5th edition |
|
Course Overview:
After the initial audit work is complete, the supervisory/audit committee must perform the follow-up
audit work. This course takes a more detailed look at the tests and procedures the follow-up audit
work may include. You will also consider individual internal control questionnaires that apply to the
specific credit union accounts or records discussed in each chapter.
Contents
- Confirmation of Member Share and Loan Balances
- Reconciliations
- Investments and Investment Transactions
- Loan Processing Review and Collateral Inspection
- Review of Loan Delinquency and Allowance for Losses
- Review of Credit Union Income and Expenses
- The Postaudit Report
TECHNOLOGY
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Credit Union Technology, 2nd edition |
Course Overview:
The purpose of this course is to expose you to the vast number of credit union technology systems and
the issues surrounding these systems. Upon completion of this course, you will understand the credit
union technology environment and be able to describe the roles related to technology.
Contents
- Technology Overview
- Role of the Board of Directors
- Role of the Supervisory Committee
- Role of Management and Staff
- Technology Systems
- E-Commerce, the Internet, and Related Technologies
- Future Technology Trends
- Current and Emerging Technology Issues
|
Planning for Technology, 2nd edition |
Course Overview:
Technology is changing at breakneck speed. To be successful, we need more than ever to develop a plan
to cope with an increasing pace of change. This course will help you to work more effectively with the
two key words of its title: planning and technology.
About This Edition
The 2nd edition puts greater emphasis than the earlier edition on planning for technology to better
serve members. The point of view in this module shifts to identifying ways to understand, introduce,
and use technology to benefit members and increase productivity of credit union staff. Member and staff
education in security and privacy measures is also covered in greater depth.
Contents
- The Director’s Role
- Financial Services Environment: Tools and Tests
- Developing Effective Technology Policies
- The Human Dimension of Technology Planning
- Productive Partnerships
- Member Satisfaction
|
Electronic Fraud and Security, 2nd edition |
Course Overview:
Upon completion of this course, you will be able to better understand the roles and legal
responsibilities of the board, supervisory committee, and management in dealing with technology risks,
and identify the main steps in assessing risk. You will understand electronic fraud and security
issues. This course also includes an overview of preventive and detection technologies and focuses on
implementing security measures while meeting member needs.
Contents
- Technology Policy
- Legal and Regulatory Responsibilities and Liabilities
- Technology Risk and Its Assessment
- Life-Cycle Security
- Internal Risk in Computer Operations
- External Risk in Computer Operations
- Telecommunications
- Other Technologies
- Summing Up
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Online Policies and Internet Use |
Course Overview::
The purpose of this course is to acquaint you with the potential risks and the policy implications of
staff use of the Internet and e-mail. You will learn how to exercise your oversight responsibilities
in developing and using Internet resources. Board members will become aware of potential abuses of
Internet access and e-mail, and threats to credit union security.
Contents
- Online Basics
- Online Risks
- Policy Basics—What Should Be Included?
- Policy Drafting and Instituting
- Software and Other Tools
- Legal and Insurance Issues
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For more information: E-mail eLearning@cuna.com or call 800-356-9655, ext. 4072.
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