As the 2021 deadline for new Current Expected Credit Loss (CECL) standard approaches, CUNA announced the new CUNA CECL Workshop happening Sept. 11-12, in Denver.
This workshop will provide credit union professionals the need-to-know changes to reserve reporting to make their credit union’s transition as easy as possible.
“CECL differs from incurred loss models that financial institutions currently use,” said Amanda Schumacher, CUNA instructional design manager. “CECL requires credit unions to estimate the full amount of credit losses from the very beginning. The new CUNA workshop allows credit union professionals to prepare their credit unions for these fundamental changes and have confidence in their practices before the deadlines.”
Attendees will leave with:
The workshop includes half-hour sessions after each main session for attendees to review their own credit union's numbers to apply the information presented. The NCUA and FASB examiners are available for questions at this time to ensure attendees leave with a working plan in place.