Presenter: Tim Harrington, CPA, TEAM Resources
Date: Wednesday, August 29, 2012
Time: 2:00 - 3:30 pm Central
An NCUA federal regulation requires all new directors to become “financially literate” within six months of joining the board. As a board member, you have an obligation to know and understand how your credit union performs financially. In today’s demanding environment, it is not enough to come to meetings and trust that other board members understand the financial statements and ratios; or that if something is amiss, the CEO will let you know. Each director, regardless of background, has an obligation to understand the credit union’s financial condition. (While this regulation only applies to federally-chartered credit unions, the information presented will benefit state-chartered credit unions as well.)
This webinar will help you understand what balance sheets and income statements really mean. Important ratios which should be monitored during the course of the year will be covered. You will also gain a deeper understanding of the relationship between profit and capital, and why both are important.
What You Will Learn
DESIGNED FOR DIRECTORS!
Don’t miss the companion webinar on September 18! Advanced Financial Literacy Update for New & Experienced Directors: ALM Primer & New Financial, Accounting & Risk Issues
Who Should Sign Up?
This informative session will be beneficial for directors, Supervisory Committee members, other volunteers, volunteers in training, CEOs, managers, senior management personnel, and other staff.
About the Presenter:
Tim Harrington is a Certified Public Accountant who specializes in working with community financial institutions. Since 1996, Tim has been President of TEAM Resources, a firm which provides consulting, strategic planning, and training from coast-to-coast.
A presenter at over 1,000 financial conferences, seminars, and webinars, Tim has provided consulting and training for hundreds of community financial institutions in nearly every state and four countries. Tim advises boards and senior management teams on strategy, profitability, and governance and works with staff on leadership and lending. In addition, he is a faculty member of three financial institution schools and is the author of the popular lending software “Lenders Tax Analyzer” and has taught lending personnel how to obtain monthly income from tax returns since 1992.