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first_img 6SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr You’ve probably heard the words “financial management” thrown around at your credit union. You may even have some familiarity with the subject. Financial management isn’t an easy skill to master, however.Perhaps you’ve been left feeling like it’s better to leave fiscal strategy to someone else. After all, long-term financial decision-making isn’t your responsibility. That’s where you’d be wrong.Understanding financial concepts can kickstart your careerAt its core, financial management is all about prioritizing the long-term financial growth of an institution. This means understanding financial projections and managing assets to ensure consistent, adequate financial health.When you demonstrate interest in the long-term success of your credit union and your ability to think about the bigger picture, you’re setting yourself apart as a competent and confident leader. That kind of initiative rarely goes unnoticed, especially in fields that tie in directly to financial management, like compliance and lending. At the end of the day, though, professionals in every department can utilize a strong grasp on financial management.Effective cross-department communication benefits everyoneEvery credit union professional should have an awareness of financial management, no matter what department you’re in. These are financial institutions, and being able to discuss and understand financial topics such as ratios and balance sheets helps optimize processes across all areas of a credit union.As we said before, financial management can be a difficult skillset to acquire. One of the most accessible avenues are CUNA Financial Management eSchools, whether you’re looking to advance your existing credit union financial know-how, or build from the essentials.You can also learn more about CUNA’s finance resources at cuna.org/finance.last_img read more

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