Compliance Blog

Written by Bernadette Clair, Regulatory Compliance Counsel

Earlier this week, NCUA released a series of six training videos designed to help new supervisory committee  members at small and low-income credit unions understand their roles and responsibilities.

The video series is available on YouTube here and includes the following modules:

• Supervisory Committee Training – Overview

• Supervisory Committee Training - Monitoring Management Activities

• Supervisory Committee Training - Annual Audit

• Supervisory Committee Training - Verification of Member Accounts

• Supervisory Committee Training - Handling Member Complaints

• Supervisory Committee Training – Resources

NCUA Board Chairman Debbie Matz commented on the release of the videos:

“NCUA is committed to providing training and support to small and low-income designated credit unions so they are able to continue to meet the needs of their members,” said NCUA Board Chairman Debbie Matz. “We chose the supervisory committee as our target audience because of the critical role these committee members play in ensuring the safety and soundness of the credit union. Our intent is that by providing free, accessible training it will be easier to recruit volunteers and increase the effectiveness of committee members.”

Each video is a short 10 minutes or less, and provides a quick overview of supervisory committee responsibilities. Other helpful resources for supervisory committee members referenced in the videos include NCUA's Supervisory Committee Guide for Federal Credit Unions and Chapter 5 of NCUA's Examiner Guide.  NCUA also indicated that it plans to release additional operational and regulatory training modules in 2014 so stay tuned on that front. 

Have a great weekend everyone!