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Learn Best Practices for Creating Clear and Effective Management Policies

ALEXANDRIA, Va. (Feb. 19, 2016) – Credit union board directors who want to improve their strategic policymaking skills can get valuable information from a new video module released today by the National Credit Union Administration.

The new video module, “Credit Union Policies and Procedures,” along with a summary of best policy practices and resources, is available online here.

Vanessa Lowe, an economic development specialist with NCUA’s Office of Small Credit Union Initiatives, narrates the three segments included in the module. The videos explain how board members can work to develop successful strategic policies, an essential ingredient in effective leadership. Board members are responsible for setting the strategy and direction of their credit unions’ futures, so being involved in policy development helps with the successful delegation of day-to-day operations to the credit union’s management.

The video module covers important components of effective policies and procedures, including:

• How the board is responsible for the development of key policies;
• Major policies all credit unions should have in place; and
• Key differences between policies and procedures.

A quiz at the conclusion of the module assesses the viewer’s knowledge. Finishing the quiz successfully earns the viewer a certificate of completion.

The online training module is part of a video series created by NCUA’s Office of Small Credit Union Initiatives covering a variety of subjects important to credit union board members. The Office of Small Credit Union Initiatives fosters credit union development and the effective delivery of financial services for small credit unions, new credit unions, minority depository institutions and credit unions with a low-income designation.