CUNA
  • Advocacy
    • Priorities we’re fighting for
    • Actions you can take
  • News
  • Learn
  • Compliance
  • Shop
  • Topics
    • Community Service
    • Compliance
    • Credit Union Hero
    • Credit Union Rock Star
    • Credit Union System
    • Directors
    • Human Resources
    • Leadership
    • Lending
    • Marketing
    • Operations
    • Policy & Issues
    • Sales & Service
    • Technology
  • Credit Union Magazine
    • Buyers' Guide
    • COVID-19
    • Digital Edition
    • Credit Union Hero
    • Credit Union Rock Star
    • Subscribe
    • Advertise
    • Contact
  • COVID-19
  • Advertise
  • Awards
    • Nominate Credit Union Hero
    • Nominate Credit Union Rock Star
  • Podcasts
  • Videos
  • Contact
Learn More about Member Value

News

Member Benefits
Learn more
Learn more about the benefits of membership.
Home » CFO Exchange a valuable forum for discussion
Operations
#CFOCouncil

CFO Exchange a valuable forum for discussion

Attendees dissect the CECL standard, exam requirements, and the rising rate environment.

May 24, 2017
No Comments
CUNA CFO Council 2017 - Scenes from Sunday

Credit union CFOs took advantage of a pilot program at the CUNA CFO Council Conference designed to stimulate in-depth conversations on pressing industry topics.

The two-hour discussion, which took place just prior to the start of the conference, drew 50 attendees from credit unions around the country with a wide variance in asset size—ranging from $10 million to $8 billion.

"People were very open to exchanging ideas, and I believe that the smaller credit unions got a big benefit out of hearing the larger credit unions speak," says Steven Arbaugh, CFO at $3.3 billion asset SECU in Linthicum, Md., and CUNA CFO Council vice chair. "We had great dialogue in the room."

Arbaugh, who served as moderator, based the format on CFO discussion sessions he guides in the Washington, D.C. region that have proven popular.

The CFO Exchange targeted topics that the main conference agenda didn't address, or that lend to more intense, back-and-forth idea sharing. Workshop attendees voted on the priority of topics via an advance survey. They indicated overwhelmingly to prioritize discussion of the Current Expected Credit Loss (CECL) accounting standard that will go into effect for fiscal years beginning after Dec. 15, 2020.

"People are starting to think about how they're going to get ready for this standard," Arbaugh says.

Other topics included:

  • NCUA examination requirements, particularly involving new provisions on interest rate risk, cybersecurity, and data protection.
  • Effects of the rising interest rate environment, including pricing strategies for certificate and money market products.
  • Branch profitability.
  • Enterprise risk management.

►Click here for more conference coverage from CUNA News, and get live updates on Twitter via @AdamMertzCUNA, @cumagazine, and  @CUNACouncils, and by using the #CFOCouncil hashtag. Learn more about the CUNA CFO Council, a member-led professional society for credit union executives, at cunacouncils.org.

KEYWORDS #CFOCouncil cecl

Post a comment to this article

Report Abusive Comment

Credit Union Magazine - Winter 2020

Winter 2020

Credit Union Magazine’s Winter 2020 edition features CUNA’s 2021 lending outlook, CEO insights on adjusting to the pandemic, and board recruitment strategies.
Digital Edition •  Subscribe

Trending

  • Compliance: 2020 Year in Review, Checklist now available

  • 5 fraud predictions for 2021

  • CUNA sends recommendations to incoming Biden administration

Tweets by CUNA_News

Polls

Will you ask employees to receive the coronavirus vaccine?

View Results
More

Champion of America’s Credit Unions

Credit Union National Association is the only national association that advocates on behalf of all of America’s credit unions. We work tirelessly to protect your best interests in Washington and all 50 states. We fuel your professional growth at every level and champion the credit union story at every turn.

More CUNA

  • About
  • Careers
  • Contact Us
  • Recommended Websites
  • Privacy Policy

Resources for

  • CUNA Board Members
  • Credit Union Advocates
  • Leagues
  • Press
  • Vendors