A/LM Training and Education for Credit Unions
With the abundance of challenges facing credit unions today, more importance is being placed on A/LM training and education for key decision-makers within the organization. Many credit unions have mentioned lately that examiners are also placing more emphasis on training for board and ALCO members.
There are many varieties of training and education. Some credit unions may have board and ALCO members attend quarterly reviews of their simulation results. Another possibility is attending A/LM education and training courses. Below are characteristics that credit unions should look for when selecting an education class:
- Roundtable discussions with decision-makers of other credit unions
- Characteristics of successful credit unions
- Threats to the industry
- Regulatory updates and impact on policy
- Different types of risk methodologies
- Real-life case studies, which allow decision-makers to quickly test decisions and understand the impact of those decisions
Having a deeper understanding of A/LM issues can no longer be restricted to just one or two individuals in the finance department. Both board and ALCO members need to be armed with a broader understanding of key A/LM issues.
