Institute of Credit Union Management inc. Association of Credit Union Compliance Officers

Reasons for the two bodies

There are many sources from which it is possible to obtain credit union knowledge and direction.  They are not a test of operational competence and trading skills, a lack of both often the cause of ailing, failing and sterile credit unions.

Operational Competence Testing – The Institute

The Institute will test the operational competences of officers, Directors, Supervisors, Committee Members or aspiring ones and the professional advisers of credit unions, by asking all applicants for membership to respond in “bullet point” form to “real time” questions via "Moodle" to stimulate as much as possible the daily circumstances of a real live credit union situation.  In this type of situation there are never exact right or wrong answers only competent ones.

Operational Competence Testing – The Association

It has been found by experience that many professional advisers to credit unions might be experts in their own core disciplines, but know little of the laws, regulations, corporate governance and operational issues that govern credit unions.  The Association will test the operational competences of Supervisors, Money Laundering Prevention and Reporting Officers, External Auditors, other professional advisers (although bound by their professional performance codes) in exactly the same way as noted for the “Institute” above.

Qualifications - both bodies

Applicants can become members of both bodies by qualification, which last for three years, when retesting will be required.

An entrance subscription will be paid to cover the cost of testing, maintenance of the website facility, the maintenance of a public register of those qualified.  In due course other benefits of use to professionally qualified individuals available for purchase will be added.

Those achieving the qualification can use the designated letters after their names, i.e. The Institute “M.I.C.U.M” and the Association “M.A.C.U.C.O” during the period of qualification. Fellowships will be awarded by qualification in due course.

Click here for full details of:

• Testing method
• Syllabus
• Test questions - The Institute
• Test questions – The Association
• What do you do next?

Do contact this office on any matter regarding the Institute and Association.