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Three New Courses Available for SCMS Third Year Students
Wednesday, June 18, 2014 6:50 AM

Southwest CUNA Management School third year students will have an opportunity to take advantage of three new courses: Serving the Underserved as an Opportunity for Growth; The Fed Simulation: Formulating Monetary Policy, and Innovation as a Reality.

Serving the Underserved as an Opportunity for Growth will be presented by Miriam De Dios, CEO of Iowa-based Coopera Consulting. The Cornerstone Credit Union League collaborated with Coopera Consulting to enhance and expand its Juntos Avanzamos Hispanic outreach program. In this thought-provoking session, De Dios will explain why serving the underserved is not only the right thing to do, but is also a growth opportunity for credit unions.

Consumers without traditional financial institution relationships represent over $1 trillion in annual income and unfortunately, many are relying on using cash and alternative financial service providers to meet the financial needs that credit unions could be meeting. However, as De Dios points out, it takes more than just having the right financial product to serve this marketplace. De Dios grew up in an unbanked household and will share her personal financial upbringing, as well as explore the following:

  • The Underserved and Unbanked Consumer
  • A Closer Look at the Hispanic Market
  • The Payments Landscape
  • Alternative Financial Service Providers
  • Financial Product Innovations
  • Best Practices
  • A Comprehensive Approach to Serving the Underserved

Tom Siems & Princeton Williams with the Federal Reserve Bank of Dallas will present The Fed Simulation: Formulating Monetary Policy. Students have the opportunity to play the role of a Federal Reserve Bank president in one of the aspects of an FOMC meeting: the policy go-round and Fed Funds rate and asset purchases recommenda­tion. After discussing the Federal Reserve’s dual mandate (maximum employment and stable prices) and reviewing macroeconomic data, students will read and evaluate the anecdotal information contained in the Beige Book. Then, students analyze current economic conditions, assessing possible economic, financial and international risks; recommending a monetary policy response. 

Innovation is a critical facet of strategy for credit unions. Participants in the Innovation as a Reality session will learn how to effectively innovate for financial services customers using the proven Filene Method. They will also learn how to support a culture of innovation through investment, human resource, risk management, and other considerations.

Andrew Downin, an innovation director for Filene Research Institute will help students uncover creative solutions to solve today’s most challenging consumer finance issues.

SCMS is a three-year program designed to develop and enhance leadership skills for credit union professionals. It provides an exceptional forum for networking with other credit union professionals; access to top industry experts, and the opportunity to ignite an inner passion and vision for personal and professional growth.

SCMS has been the educational cornerstone for more than 1,000 credit union professionals. Students have come from throughout the U.S., as well as from Brazil, Mexico, New Zealand and Romania. SCMS students must complete a rigorous curriculum that includes studies of management/leadership processes; strategic planning analysis and strategy; asset liability management principles and strategies; financial trend analysis; investment instruments; business writing; communication and presentation skills; risk management; legal environment; political advocacy; compliance principles; marketing theory and strategies; quality service and control; credit union history and philosophy, and lending principles and issues.

SCMS offers an intimidate environment on the campus of Texas Christian University that encourages and inspires. Only a few slots remain for first-year students. The 2014 SCMS Summer Session is July 13-23. Prospective students should visit www.scms.coop for additional information.

If you have any questions, please contact McBee, at (469) 385-6634 or (800) 442-5762, ext. 6634.