Financial Management School III & IV

The changing nature of today’s financial marketplace makes it critical for credit union employees to have a firm understanding of financial principles. Join your credit union colleagues for parts III & IV of MnCUN’s Financial Management School, offered Sept. 20-22, which blends theory with practical application to provide a thorough understanding of the fiscal aspects of the credit union. (FMS Parts I & II were held in May 2010.)

View complete Financial Management School brochure (pdf)

Who should attend?

The Financial Management School is geared toward those who directly or indirectly work to strengthen the credit union’s bottom line. Attendees will learn the fiscal basics and receive instruction on how to utilize financials in the strategic planning process. Specific positions that will benefit from this school include:

• Accounting
• Branch Managers
• Business Development
• CEOs
• CFOs
• Human Resources
• Lenders
• Marketers
• Volunteers

Part III: Product Pricing & Matching Strategies

In addition to prudent asset liability management (ALM) practices, credit unions must focus on improving product pricing to increase earnings and strengthen capital positions. Part III of the school pairs ALM instruction with product pricing and matching strategies, resulting in better pricing decisions.

Participants will analyze their own individual credit union's GAP calculations, product pricing, and matching strategies. They will examine underlying assumptions and have the opportunity to make changes or enhancements. Using individual GAP and matching analysis completed for selected credit unions, instructor Jim Aho will critique ALM assumptions including pricing and matching strategies in order to further the participants' understanding of ALM concepts. This workshop also includes an overview of Net Economic Value (NEV) analysis to increase the understanding of how it can be used as a reliable ALM tool.

• Review actual business plans (budgets) and GAP
• Critique strategies developed for pricing products & services
• Discuss cash flow forecasting
• Overview of Net Economic Value (NEV) analysis

Part IV: Strategic Thinking

During the final portion of the school, each participant will work on developing their credit union’s strategic direction, philosophy and long-term objectives. Discuss field of membership expansion opportunities, improved marketing concepts, human resources development, future technology and delivery systems, and the need to improve future operating efficiencies. Instructor Jim Aho will also discuss the need for utilizing sound ALM principles in building strategic financial growth plans and demonstrate how long-term plans must include objectives for projected asset, loan and net capital growth.

• Develop an individual growth chart
• Create an annual business plan to support a long-term vision
• Analyze the key components of an income statement
• Develop 2010 strategic objectives (individual activity)
• Develop 2010 major tactics (individual activity)
• Critique strategic objectives and major tactics for selected credit unions

View complete Financial Management School brochure (pdf)

Presenter

Jim Aho has been serving credit unions in various capacities since 1973. He holds a CPA certificate and travels throughout the United States providing education and management advisory services to credit unions of all sizes. In addition to writing numerous books and Volunteer Achievement Program modules, Aho is an instructor for the National Institute for State Credit Union Examiners. He also teaches at CUNA's Management Schools in Wisconsin, California and Texas and has appeared on the Credit Union Video Network.

Conference Details

Price & Deadline: 
$700 early bird registration extended through Friday, Sept. 10!
(conference price includes handouts, breaks, breakfasts, & lunches)

Parking

Due to the length of the school, attendees will be unable to park in the Network office’s guest parking lot. Below are some parking lots near the Network office:

• St. Joseph’s Hospital   
• Lawson Municipal Parking Ramp – St. Peter Street & West 5th Street, St. Paul 
• Allied Parking Inc. – 477 Cedar Street, St. Paul 
• Block 19 Municipal Ramp – 145 East 7th Street, St. Paul

Lodging

Attendees can stay at a variety of hotels in the St. Paul. There is no need to reference the Minnesota Credit Union Network when making reservation. A few lodging options include: