Gallagher is a leading compensation consultant to credit unions. Since 1995, it has provided an increasingly wide range of retirement benefits and other compensation-related services to credit union executives, directors and employees. The organization aims to help credit unions recruit, reward and retain its talented executives.
Gallagher’s broad expertise in the complex tax, accounting, legal, regulatory, funding and administrative issues that govern the use of benefits/compensation programs by financial institutions allows it to deliver a wide range of solutions to its clients.
Gallagher and NAFCU Services co-sponsor the NAFCU Executive Compensation & Benefits Survey of credit unions annually. Every participating credit union receives a copy of the summary report at no cost. The survey is conducted by independent research firm Clark Research Associates, LLC.
The 2020 NAFCU Executive Compensation and Benefits Survey report is now available. For more information about the study and to get copies, please email Liz Santos.
Their Executive Benefits Learning Series helps credit unions understand effective methods for executive compensation and benefits to help recruit, retain, and reward their executive team. Complex topics in executive benefits and compensation are broken down into tax, accounting, legal, regulatory compliance, funding, and administrative concepts allowing credit unions to increase their knowledge and gain free practical advice. The innovative series consists of monthly, free live webinars which are recorded and archived for future reference.
Add to Calendar2020-10-15 14:00:002020-10-15 14:00:002020 NAFCU–Gallagher Executive Compensation and Benefits Report
About the Webinar
Every year for more than a decade, NAFCU and Gallagher have teamed up to provide a comprehensive executive compensation and benefits report. This year’s report contains data for CEOs and executives from more than 550 credit unions around the country. Join your colleagues for insights, trends, and helpful tips on reading the data tables. You’ll learn:
How to adjust compensation levels for performance and other key metrics
How to develop an executive benefit program
What key trends affect your retention strategy
Webinar attendees will receive a complimentary copy of the report.
Watch the Webinar On-Demand
WebNAFCUdigital@nafcu.orgAmerica/New_Yorkpublic
Add to Calendar2020-07-23 14:00:002020-07-23 14:00:00Excise Tax Update: Recent IRS Changes and Proposed Regulations
About the Webinar
The 2017 Tax Cuts and Jobs Act included a new Section 4960 that levied an excise tax on tax-exempt entities like credit unions. The excise tax, paid by the credit union, applies for covered employees on (1) remuneration in excess of $1 million and (2) excess parachute payments for highly-compensated employees. As expected with such wide and sweeping legislation, there were points of Section 4960 that needed further clarification. Until final regulations could be issued, the IRS allowed an organization to use its own reasonable, good faith interpretation of the statutory rules and guidance provided in IRS Notice 2019-09.
Recently, the IRS issued proposed regulations which provide needed clarifications and some new exceptions. While the proposed regulations are consistent with much of the previously issued guidance, the nuances of the new guidance and general complexity of the rules warrant careful review to ensure a credit union is fully prepared for compliance. Join us as we walk through the proposed regulations to understand the impact on your credit union’s bottom line.
Watch the Webinar On-Demand
WebNAFCUdigital@nafcu.orgAmerica/New_Yorkpublic
Add to Calendar2020-07-16 14:00:002020-07-16 14:00:00Benefit Liability Management: Offsetting Employee and Executive Benefit Expenses
About the Webinar
Benefit Liability Management isn’t a new concept in the credit union industry, but the current financial environment is prompting many credit unions to take a second look at it. Sometimes called Benefits Pre-funding, it is simply purchasing an otherwise impermissible investment to offset employee and executive benefit expenses. Before implementing Benefit Liability Management, several key questions must be considered. While there is no right or wrong answer, it’s important to note that each credit union must carefully decide what’s appropriate for their particular situation and their membership. Join this webinar for an overview of Benefit Liability Management and discussion of these key considerations:
1. Which otherwise impermissible investment is right for my credit union?
2. What investment options are available?
3. What is the accounting treatment?
4. What compliance review is needed?
5. Is it necessary to use a firm to implement benefit liability management?
Watch the Webinar On-Demand
WebNAFCUdigital@nafcu.orgAmerica/New_Yorkpublic
Add to Calendar2020-06-11 14:00:002020-06-11 14:00:00Hot Topics in EFTA Compliance and Supervision
The Electronic Fund Transfer Act (EFTA) provides protections to consumers in connection with most electronic payments that debit or credit the consumer’s asset account. The provisions of this law impose obligations (and liability) chiefly on the financial institution holding the consumer’s account.
Though the EFTA has had some small changes in the last decade, substantial changes in the way consumers use financial services over the same period has driven keen interest in this area by regulators. This includes the CFPB. The Bureau has given close attention to deposit-related issues in its examination and enforcement activity and much of what the Bureau has focused on publicly relates to practices governed by the EFTA.
This webinar will provide an overview of several key aspects of the EFTA and its implementing regulation (Regulation E). You’ll also be provided with takeaways and insight into areas in which the Bureau has recently focused.
PROGRAM UNDERWRITTEN BY
Key Takeaways
Consumer liability for unauthorized transactions;
Error resolution issues;
Stop payments for Pre-authorized EFTs;
Record retention; and
Remittances.
Purchase Now$295 Members | $395 Nonmembers(Additional $50 for CD)One registration gives your entire credit union access to the on-demand recording until June 11, 2021.Already registered? Go to the Online Training Center to view live.
Who Should Attend?
NAFCU Certified Compliance Officers (NCCOs)
NAFCU Certified Risk Managers (NCRMs)
Compliance staff
Risk staff
Education Credits
NCCOs will receive 1.5 CEUs for participating in this webinar.
NCRMs will receive 1.5 CEUs for participating in this webinar.
CPA credit information is below; recommended 1.5 CPE credits.
CPA Certification Credit Information
Reviewer: Josie Collins, Associate Director of Education, NAFCU
Learning Objectives: Consumer liability for unauthorized transactions; Error resolution issues; Stop payments for Pre-authorized EFTs; Record retention; and Remittances.
Program Level: Basic
Prerequisites Needed: None
Advance Preparation Needed: None
Delivery Method: Group Internet-Based
Recommended CPE Credits: 1.5 credits
Recommended Field of Study: Regulatory Ethics - Technical
National Association of Federal Credit Unions (NAFCU) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. Learn more.
About Our Webinars
Our webinars are streamed live from NAFCU headquarters near Washington, D.C. Your audio/video feed of the presenters includes presentation slides and downloadable handouts. You can easily submit your questions to the presenters at any time during the live broadcast, with no dialing over the phone! The audio and video stream directly through your computer.
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