NASCUS Unveils an Expansion of the New Credit Union Examiner Training Program

FOR IMMEDIATE RELEASE
August 1, 2024 

ARLINGTON, VA — Today, the National Association of State Credit Union Supervisors (NASCUS) announces an expansion of our Online University covering the release of Module 3 within the New Credit Union Examiner Training Program, which is now accessible to state regulatory agencies.

Sarah Jaeger, Financial Institutions Examination Program Director at the Minnesota Department of Commerce, commented, “Revamping our onboarding process to include NASCUS new credit union examiner training has significantly benefited our new examiners. They felt more prepared and less stressed for NCUA’s STEP classes, allowing them to grasp advanced concepts more easily. The NASCUS on-demand training has been invaluable in setting our new examiners up for success.”

This latest module focuses on essential topics such as financial statement review, basic accounting, Financial Performance Reports and Call Reports, CAMELS and Composite ratings, and an introduction to NCUA’s Total Analysis Process (TAP).

• Module 1, launched in October 2023, provided courses covering an introduction to credit unions, financial regulators, examinations, the seven risks, financial reporting and analysis, and an overview of BSA/OFAC, fraud, and bank reconcilements.
• Module 2, released in March 2024, delved into the seven risks, emphasizing risk identification, key ratios, factors in risk assessments, and risk ratings.

“The training curricula, developed by NASCUS and state regulators, demonstrate our commitment to ensuring examiners have the comprehensive knowledge needed for meaningful supervision of state-chartered credit unions,” said Brian Knight, President and CEO of NASCUS. “As the credit union system evolves, it is essential for regulators to keep pace with emerging trends, technologies, and practices in the financial services sector.”

The New Credit Union Examiner Training Program is being developed by a dedicated working group of state credit union regulators, with support from the National Institute of State Credit Union Examination (NISCUE). This program aims to equip state credit union examiners with the knowledge and skills to supervise state-chartered credit unions effectively.

Click here to learn more about the NASCUS Online University.