Financial Literacy Fundamentals for New Directors: Financial Statements, Key Ratios & Monitoring Your CU

How’s your credit union doing? No. Really. How’s your credit union doing? Board directors, supervisory committee members, and staff need to know, before any auditor or regulator, how their credit union is doing. Financial statements and important ratios are like a code. This fast-paced, interesting and sometimes funny presentation will decode the financial statements and ratios. It will help everyone better understand how their credit union is doing. What are the most important ratios every CU should have on their dashboard? What is capital (net worth)? Where does it come from and how much do you need? We will look at profit to determine if your credit union is making “enough”. We will examine a spread analysis to see how your CU is making its profit and whether that profit is improving or declining and why. I know exciting stuff, isn’t it?! But you will leave much better equipped to know how your credit union is doing.