CUNA Board Financial Literacy Certificate

Stay informed on the regulatory changes that you need to know

The NCUA requirement for credit union volunteers to display a proven level of financial literacy makes it crucial that you have the opportunity to do so. Through the CUNA Board Financial Literacy Certificate, you can stay up to speed on the latest regulatory and financial climate changes you need to know to keep you informed and meet the requirements.

Earn the certification in the format that fits you best:

NCUA Requirement

A mandatory financial literacy rule has been issued by the NCUA. The mandatory level of financial literacy will depend upon each individual credit union’s complexity.

This requirement was issued as a result of an increasingly more complex financial industry landscape. Additionally, there has been a heightened concern over credit union losses and an escalation of sophistication of credit union finances. The NCUA would like to ensure that federal credit union directors have a sufficient working knowledge of their credit union’s financials going forward.

The significant points of this rule include:

  • Directors must have at least a working familiarity with basic finance and accounting practices
  • Directors must have the ability to read and understand their credit union’s balance sheet and income statement
  • Directors must be able to ask, as appropriate, substantive questions of management and the internal and external auditors

See more solutions for your needs as a volunteer.