The Standards Framework

1. The Standards Framework

2. Outline of Presentation • The Standards Framework AGM Motion • The Rationale for Adopting the Framework • Paths to Recognition • Continuing Professional Development (CPD) • Benefits of the Standards Framework • Questions?

3. The Standards Framework Motion “That this Annual General Meeting adopts the training “Standards Framework” as a minimum competency requirement (MCR) for credit union officers.”

4. What is the Standards Document? • Describes the elements of knowledge and skill required by a credit union officer, to carry out their role in a effective and efficient manner. • It was developed by the movement and based on what credit union officers actually do. • The majority of serving officers will already meet the standards required. • The Standards Framework will be visible recognition for what people already do. • Meeting the requirements can lead to a 3rd level qualification

5. Ins. Staff 2,500 The Standards Framework Core Products Staff 1,500 Standards Framework Supervisors 1,500 Regulator MCR Recognition Directors & Committees 7,500

6. Main Components of the Standards Framework

7. Minimum Qualifications • Recognition of relevant qualifications: • ACCUP • CUA • Up to 50% exemptions for other qualifications – UCC Diploma, QFA, Accounting Qualifications • Further exemptions can be granted upon individual application

8. Grandfathering • Those with 4 years experience • Requires proof • Once off exemption • Will require ongoing CPD from 2010 onwards

9. Continuous Professional Development • Maintaining and enhancing governance and operational standards • CPD hours annually to keep RCUP designation • And also for those grandfathered • CPD relevant to credit union • The Standards Framework determines relevancy

10. How do I get my CPD hours? Many ways to gain formal CPD: • Current ILCU Training Workshops (4 hrs) • External Training Attended (4 hrs) • E-learning courses (2 hrs) • Attendance at ILCU events; Chapter Officers/Roadshows (4 hrs) • Attendance at other events; CUMA/ICCA/NSF (4 hrs) • Presentations at Chapter (1-2 hrs) • Credit Union In-house Training courses (2-4 hrs) • CU Focus (1 hr per issue) ILCU will have online system to help record and maintain your CPD

11. “I would strongly urge that all credit union volunteers and staff undertake accredited training programmes such as the Advanced Certificate in Credit Union Practice. I also recognise that every person working in the financial services sector has an individual responsibility to undertake continuous professional development (CPD) each year and would advocate that every credit union put in place appropriate structures to facilitate this.” Joe Meade, Former Financial Ombudsman NSF Conference, 2009

12. “We are of the view that the time has now come for a statutory governance framework to apply to credit unions, which would include fit and proper competency based requirements for boards and managers and we intend to include this proposal in the terms of reference for the strategic review” James O’Brien, Deputy Registrar of Credit Unions CUMA Conference 2010

13. Summary – The Standards Framework will: • Protect our philosophy and ethos • Recognise training undertaken • Protect volunteerism in the movement • Promote credit union movement as professional and progressive organisation • Give message to members – “Safe, Strong and Secure” • Promote common standard across credit unions

14. Any Questions?

15. Appendix 1Questions from the Standards Framework Roadshow

16. The Standards Framework does not give CPD hours for work undertaken in the credit union, why is this? Continuous professional development which is undertaken each year relates to any formal activity which furthers a credit union officer’s knowledge, understanding or competence in the operation or governance of a credit union. While work carried out in your role in the credit union can further your knowledge in a particular area, it is not a formal learning activity in itself. This would be a commonly accepted standard in established CPD (Continuous Professional Development) programmes.

17. Why is the League insisting on people with long experience in the credit union movement prove that they can do their job? The adoption of the Standards Framework provides for recognition of people with significant service in the movement through the Grandfathering exemption. In fact the Standards Framework recognises the fact that credit union officers have an extensive and detailed knowledge of the movement and its operation and through ACCUP a member can receive formal recognition of this fact. What does the term “Grandfathering” mean? This is an option for any person working in a credit union who is competent through experience. If a credit union volunteer or staff member can demonstrate four years experience in their role from the last eight years then they are eligible to be “Grandfathered” and will not be required to undertake a minimum qualification.

18. Will a mandatory training regime be imposed upon us by the Financial Regulator / Northern Ireland Registrar if the Standards Framework is not passed? The Registrar of Credit Unions (ROI) / Financial Regulator and the Registrar of Credit Union in Northern Ireland have not yet given a direct commitment to implement a mandatory training regime. However, there have been several strong indications from the Financial Regulator and Registrars that such changes will be coming in the future. The imposition of the MCR’s (Minimum Competency Requirements) for credit unions selling insurance is a strong indicator of the regulator’s intentions in this regard. However, rather than having an external body impose a mandatory training regime, the ILCU believes that it is very important for the credit union movement to adopt its own Standards Framework.

19. Will the introduction of the Standards Framework not make it more difficult to attract new volunteers? Attracting suitable volunteers to work in credit unions has always been a challenge for the credit union movement. It is recommended that credit unions pro-actively seek new volunteers on an ongoing basis as a matter of priority. Through the standards framework a credit union is offering potential volunteers a structured development plan which can lead to a university certified qualification, which can be sold to potential volunteers as a very real benefit. Many community and voluntary organisations in Northern Ireland and the Republic of Ireland insist on mandatory training for all volunteers. Most new volunteers would expect to be given sufficient training in order for them to have the knowledge required to carry out their role. According to Volunteering Ireland the number one reason for people to volunteer is self-development. The Standards Framework therefore complements any credit union who is actively seeking new volunteers by providing a structured training plan so that they have the necessary tools to competently carry out their role.