A Practical Approach to Simplifying CECL Discussed at Executive Summit

While plenty of resources are available for industry information, nothing replicates the one-on-one exchanges that executives experience when gathering with colleagues who share a passion for supporting the credit union mission. This is particularly true for those responsible for the countless strategic, operational, cultural and compliance issues involved with running a successful credit union.

During the MCUL & Affiliates 2019 Executive Summit, attendees will have the opportunity to share insights and ideas in a beautiful resort setting on the shores of Bay Harbor.

Slated on the agenda is a high-level overview about the Financial Instruments—Credit Losses standard that will be effective for credit unions in 2022. With the Financial Accounting Standards Board's release of a Q&A document in January 2019, the weighted average remaining maturity method has been confirmed as an option. An illustration of how to calculate the lifetime loss rate and apply the current condition will be shared, along with reasonable and supportable forecasts consistent with the accounting standard.

Online registration is now open for the Executive Summit, being held Sept. 11-13 at The Inn at Bay Harbor. C-suite leaders interested in attending are encouraged to secure accommodations soon.