Industry Day held for Michigan Credit Union Leadership
The Michigan Office of Credit Unions within the Department of Insurance and Financial Services (DIFS) hosted a Michigan Industry Day Conference earlier this month. The event was designed to encourage participation of Michigan’s regulatory staff with industry officials based upon their individual interests and job responsibilities over a wide range of issues.
This year’s conference covered a variety of topics including presentations concerning cybersecurity, fraud, asset liability management (ALM) and legislative and regulatory updates.
“For the industry to remain viable, and our exam program to be effective, we must maintain strong communication between the regulator and the regulated,” said Office of the Credit Unions (OCU) Director John Kolhoff.
The well attended and highly-rated event included cooperative dialogue between industry executives, DIFS staff and the expert presenters who spoke at the event. One credit union staff member wrote, “I found it extremely helpful and beneficial” while another one said, “Very informative – well worth my time away from my credit union”.
“The industry day conference provided credit union leadership with information on current regulatory and operational challenges and opportunities,” added DIFS Director Patrick McPharlin. “Though there is much tradition in our state and in the credit union industry, we need to continue to look ahead and plan for the future. We need to learn from the past and always focus on reinventing ourselves so that our state continues to grow and thrive.”
Plans are already underway for next year’s October 2017 Michigan Industry day which will be held in conjunction with a NASCUS/CUNA Bank Secrecy Act conference. OCU is working with NASCUS/CUNA to bring the certification program to the central Michigan area to recertify OCU field staff and the event will be open to credit union industry participants. Participants will be able to obtain training for a Bank Secrecy Act Compliance Specialist Designation (BSACS) certification or recertification with much lower travel costs and less time away from their institutions. Watch for future NASCUS, DIFS or CUNA announcements as the event details will be finalized soon. OCU Director Kolhoff and DIFS Director McPharlin encourage Michigan credit unions to consider taking advantage of this opportunity to receive this high quality training held within the state.
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