MAUI — What was billed as a presentation on essentials in credit union board financial education essentials evolved into discussion of topics ranging from the NCUA's director education requirements to peer comparisons.

Bob Schumacher, retired CEO of the $82 million MountainCrest Credit Union turned consultant, led a session here Tuesday titled "Financial Essentials for Volunteers" at The Paragon Group's Volunteer Leadership Institute. As the title portrays, he covered the basics of the balance sheet. "Your capital to asset ratio–that's what you live by, folks," he asserted.

But the interactive session took various turns as the audience peppered him with questions. One of the hottest discussions centered on examinations. The inconsistency of the NCUA was an oft-repeated concern. Situations were shared where examiners told a credit union to form a committee to oversee all the loans running through the credit union, and the next year asked why the credit union was doing that.