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A Direct Line Blog

Your Secret Decoder is Here!

January 31, 2024 7:30 am

By Donya Parrish, MCU VP- Risk Management

If you’ve been reading this blog for awhile, you know I am all about finding and sharing great resources. There is no need to reinvent the wheel if someone else has done a good job and is willing to share. With understanding financial reports and trends being such a big part of your role as directors, I couldn’t help but be a little giddy when I saw that TEAM Resources had done just that — shared a wonderful resource for understanding credit union financials!

Tim Harrington has provided training sessions for us in the past and always knows how to explain ratios and financials in a way that you come away feeling smarter and more prepared. This time, he and his colleague Kevin Smith are sharing the “cheat codes for understanding credit union financials at the board of director’s level.” Perfect!

You can find the blog, Tim’s Financials Decoding Manual, and use it to calculate your own credit union ratios. With the last couple years proving to be a challenge with rising rates, there is no doubt this knowledge is as critical as ever. And a big THANK YOU to TEAM Resources for being so generous with sharing their knowledge and tools!

If you love Tim’s approach and want to learn more, we do have a couple webinars he did for us that are available on our Director’s Training Tools page under the topic of “Director Financial Literacy.”

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