X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Looking at third-party options.

Most non-public business entities aren’t required to implement the current expected credit loss (CECL) model until fiscal years starting after Dec. 15, 2020. However, many credit unions are heeding the advice of the NCUA and advancing steps to ensure effective implementation of this major change in estimating losses. The model will require more inputs, assumptions, analysis and documentation, making the option to automate and modernize the process significantly more attractive than under existing standards. Credit unions considering software to comply with the regulations may choose to build their own software solution or work with a third-party vendor. In either case, credit unions have several considerations to help narrow the playing field.

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2019 ALM Media Properties, LLC. All Rights Reserved.