Business Math - Share and Deposit Accounts course (print)

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S1307M

Mar. 13, 2013 

This course will familiarize you with calculations relating to share accounts and other deposit accounts. All credit union employees need good math skills as a core competency. This course features interactive online activities as a part of the print-based course. See them for yourself.

This is a CUNA STAR course.

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S1307M

Mar. 13, 2013 

A comprehensive exam for all 5 courses is included through CUNA CPDOnline. Additional exams can be purchased for $24.50 each.

Basic Math Definitions:

  • Convert percentages to decimals
  • Calculate annual rates of return and annualized rates of return
  • Define basis point and determine the number of basis points in a dividend rate change
  • Explain the difference between accrued and credited dividends
  • Define compounding, and explain how it can increase the amount earned on a share account
  • Calculate the average daily balance of a share account

Share Account Dividends:

  • Determine end-of-day balances on accounts
  • Calculate daily balance dividends and average daily balance dividends
  • Calculate dividend rates for periods of different lengths, when given an annual dividend rate
  • Explain factors that cause dividend earnings to fluctuate from one period to another
  • Round dividend amounts and rates

Account Balances and Dividend Calculations:

  • Explain and calculate dividends for accounts with minimum balance requirements
  • Define tiered-rate account
  • Explain the difference between tier methods A and B and how that difference affects dividends
  • Calculate dividends for accounts with tiered rates
  • Define and explain how to calculate dividends on stepped-rate accounts

Dividend Compounding and Annual Percentage Yield (APY):

  • Define and calculate annual percentage yield (APY) and state the basic formula for open-end and 365-day accounts
  • Explain how members can use APYs to compare yields on different accounts
  • Describe the effects of low and high dividend rates on APY calculations
  • Explain differences in disclosing APYs on accounts with minimum balance requirements to earn dividends, tiered-rate accounts, stepped-rate accounts, and certificates
  • Define annual percentage yield earned (APYE) and explain why the APYE for a members account might be higher or lower than the accounts APY

Helping Members Reach Savings Goals:

  • Calculate the approximate doubling of an investment by using the Rule of 72s
  • Calculate the future value of an initial deposit by using a future value table
  • Calculate the amount of an initial deposit to achieve a future value
  • Calculate growth of a continuing series of annual deposits by using a future value of annuity (FVA) table
  • Calculate how much to deposit annually to achieve a future value
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Buy Now $47.50
Please view cart for pricing
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S1307M

Mar. 13, 2013 

Recognition

Recognition opportunities are offered at various training milestones with CUNA designations and certificates.

College Credit

Select courses are recommended for college credit for students who pass proctored, college-level exams and carry college credit recommendations.

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S1307M

Mar. 13, 2013 

CUNA courses are a simple, affordable way to provide current, real-world training to your credit union. Courses are available in print and/or online through CUNA CPDOnline. With hundreds of courses to choose from, you're sure to find learning materials to fit your credit union's needs. See a full course list.

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