--- title: Are you meeting the NCUA's qualifications to serve as a board member? description: Make sure you are fulfilling the NCUA's board requirement for financial literacy and other qualifications. image: https://content.americascreditunions.org/hubfs/CUBRT24_BN-1.jpg --- [![AmericasCUs_Logo](https://content.americascreditunions.org/hs-fs/hubfs/AmericasCUs_Logo.webp?width=200&height=47&name=AmericasCUs_Logo.webp)AmericasCUs\_Logo](https://www.americascreditunions.org) Menu - Menu Item - Sub Menu - Sub Menu - Sub Menu ![5 KPIs of Successful ERP Implementation](https://www.manobyte.com/hubfs/chub_backup/5%20KPIs%20of%20Successful%20ERP%20Implementation.jpg) #### Section Header Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. - Menu Item - Sub Menu - Sub Menu - Sub Menu ![5 KPIs of Successful ERP Implementation](https://www.manobyte.com/hubfs/chub_backup/5%20KPIs%20of%20Successful%20ERP%20Implementation.jpg) #### Section Header Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. - Menu Item - Sub Menu - Sub Menu - Sub Menu ![5 KPIs of Successful ERP Implementation](https://www.manobyte.com/hubfs/chub_backup/5%20KPIs%20of%20Successful%20ERP%20Implementation.jpg) #### Section Header Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. - Menu Item - Sub Menu - Sub Menu - Sub Menu ![5 KPIs of Successful ERP Implementation](https://www.manobyte.com/hubfs/chub_backup/5%20KPIs%20of%20Successful%20ERP%20Implementation.jpg) #### Section Header Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. - Menu Item - Sub Menu - Sub Menu - Sub Menu ![5 KPIs of Successful ERP Implementation](https://www.manobyte.com/hubfs/chub_backup/5%20KPIs%20of%20Successful%20ERP%20Implementation.jpg) #### Section Header Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. - Menu Item - Sub Menu - Sub Menu - Sub Menu ![5 KPIs of Successful ERP Implementation](https://www.manobyte.com/hubfs/chub_backup/5%20KPIs%20of%20Successful%20ERP%20Implementation.jpg) #### Section Header Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. 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By [America's Credit Unions](https://content.americascreditunions.org/en/topics-of-interest/author/americas-credit-unions) / February 21, 2024 at 4:22 PM [Return to Blog](https://content.americascreditunions.org/en/topics-of-interest) ![Are you meeting the NCUA's qualifications to serve as a board member?](https://content.americascreditunions.org/hubfs/CUBRT24_BN-1.jpg) Whether you’re currently sitting on a board of directors or if a board stint is in your future, you’ll need more than just years of experience and the wisdom you’ve gained along the way.  In fact, [NCUA Rule 701.4](https://ncua.gov/regulation-supervision/letters-credit-unions-other-guidance/duties-federal-credit-union-boards-directors) defines the qualifications and knowledge required to serve as a board member at a federal credit union. Even non-federal credit unions follow this rule or a variation of it. Think of it as a roadmap for navigating your way around that 30-foot mahogany table.  Rule 701.4 sets a baseline standard of financial literacy to ensure the credit union’s vital directives are in good hands. It identifies basic abilities but also alludes to the bigger picture: What do the numbers really say? What should high-level strategy include? How can financial statements function like a compass in determining the direction and soundness of the institution?  One way to fulfill this NCUA requirement is by passing the open-book exam and earning the Credit Union Board Financial Literacy Certificate at [Credit Union Board School](https://hubs.li/Q02lT5L30). This event happening in May in New Orleans will prepare you to sit at the table whether you are a seasoned veteran or a soon-to-be board member. “The school provides good information for directors at any stage in their tenure,” says 2023 attendee Teresa Quezada, director and secretary to the board at GECU. “Other participants—true to the credit union mission to help people—generously share their experiences.” ## Related Posts ![Horizontal](https://content.americascreditunions.org/hs-fs/hubfs/Horizontal.png?width=315&height=74&name=Horizontal.png) Contact our Member Experience Team [800-356-9655](tel:8003569655) or [hello@americascreditunions.org](mailto:hello@americascreditunions.org) [![Instagram](https://content.americascreditunions.org/hs-fs/hubfs/LinkedIn.png?width=32&height=32&name=LinkedIn.png)](https://www.linkedin.com/company/americascreditunions/)![LinkedIn](https://content.americascreditunions.org/hs-fs/hubfs/Instagram.png?width=32&height=32&name=Instagram.png)[![Twitter](https://content.americascreditunions.org/hs-fs/hubfs/Twitter.png?width=32&height=32&name=Twitter.png)](https://twitter.com/AmericasCUs)[![Facebook](https://content.americascreditunions.org/hs-fs/hubfs/Facebook.png?width=32&height=32&name=Facebook.png)](https://www.facebook.com/AmericasCreditUnions) © America's Credit Unions 2026,  All rights reserved. ```json { "@context" : "https://schema.org", "@type" : "BlogPosting", "author" : { "@type" : "Person", "name" : "America's Credit Unions", "url" : "https://content.americascreditunions.org/en/topics-of-interest/author/americas-credit-unions" }, "dateModified" : "2024-03-01T21:03:55.958Z", "datePublished" : "2024-02-21T22:22:52.000Z", "headline" : "Are you meeting the NCUA's qualifications to serve as a board member?", "image" : [ "https://content.americascreditunions.org/hubfs/CUBRT24_BN-1.jpg" ], "mainEntityOfPage" : { "@id" : "https://content.americascreditunions.org/en/topics-of-interest/are-you-meeting-the-ncuas-qualifications-to-serve-as-a-board-member", "@type" : "WebPage" }, "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://content.americascreditunions.org/hubfs/Assets/Logos/Americas%20Credit%20Unions/ACU-3line-Purple-500x164.png" }, "name" : "Credit Union National Association" } } ```