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CECL compliance poses challenges for CUs.

Credit unions are bracing for the impact that the current expected credit loss (CECL) model may have on their institutions’ ALLL and capital levels, and they are adopting transition plans now. One step credit unions will take in this process involves making sure the institution knows what types of data will be needed, what systems will need to be in place, and how much of that data needs to be collected and analyzed. Loan-level information will be required in CECL – a big change for many credit unions, which currently may only archive data at the pool level.

Interagency guidance on CECL issued Dec. 19, 2016 described requirements this way:

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