Reality Check 2011 Update: Special Director Education Session Added in Wake of NCUA's New Director Duties Reg

Posted by Marissa Anema Wednesday, January 05, 2011 10:18:00 AM

The groundbreaking Credit Union Reality Check 2011 is now even more valuable.

A special director education session has been added to the line-up to assist credit union directors in complying with NCUA's new director education regulation. Directors must be in compliance by July 27th.

"We thought it was vital to add this special session so our director attendees can get this important education as they attend the innovative Reality Check conference," said NJCUL President/CEO Paul Gentile. "The key is that this new session will not interfere with the existing agenda. Directors who wish to attend won't miss any of our excellent sessions. One of the things that makes Reality Check unique is the all-general session format, the interactive voting responders, audience participation, and the compelling topics. We did not want that to be interrupted."

Directors will be invited to attend the special director education session on Tuesday after the last Reality Check session of the day concludes. It will fall during dinner hours, so attendees will be provided with a complimentary meal. The session will conclude in sufficient time for directors to still attend the evening's entertainment event.

The new NCUA rule addressing the duties of federal credit union boards will be effective in January 2011, and compliance with the financial literacy portion of the rule will be required by July, 27th 2011. As part of the financial literacy requirements, all FCU directors, including existing directors, must have the ability to read and understand a credit union balance sheet and income statement.

Bob Fouratt of the accounting firm The Curchin Group will present "Reading and Understanding Your Financial Statements" during the special session.

More information on the Credit Union Reality Check 2011 is available at

To make a reservation at Harrah's, visit

The deadline for reduced room rates is February 28th, 2011.  


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