What is Competency Development about?
Competency Development includes a wide range of high quality training and consulting services on all relevant current issues to enhance the competence, professionalism and excellence of the Credit Union personnel.
Mandatory Training Requirements for Credit Union Personnel
there are 4 mandatory training requirements which all financial institutions including credit unions must undertake, some on an annual basis others every two years as follows:
Anti-money Laundering & Combating Terrorist Financing – Under the Criminal Justice Act, Anti-Money Laundering & Terrorist Financing (AML) training is a mandatory annual requirement for all Directors, Supervisors, Management and Staff.
Data Protection Training should be completed by all credit unions every 2 years.
Counterfeit Note Detection Training should be completed by all cash handling staff every two years and new staff should be trained on site during interim period.
Pension Trustee Training – Since the 1st February 2010 all trustees of pension schemes are obliged to avail of pension trustee training every two years. Some Credit Unions have delegated this function to professional trustee companies who carry out this function on behalf of the Credit Union.
CUDA regularly run training events to fulfill these mandatory reguirements, as well as other topics such as:
- Governance Training
- Credit Control
- Training Events for Credit Union Boards of Directors
- Training Events for Board Oversight Committee Members
- Ethics in Credit Unions
- Social Media
For further information on any of the above training requirements, please contact firstname.lastname@example.org in the CUDA office.
If your Credit Union has a specific need for support we would welcome the opportunity to talk with you about a possible solution.