Aux and Accolade Partner to Provide No-Cost Cecl Webinar for Interested Credit Unions
LAKEWOOD, CO (July 22, 2022) — Aux and Accolade have partnered to provide a free CECL webinar for credit unions interested in learning more about the requirements and timing of implementing CECL. With the January 1, 2023 deadline looming for federally insured credit unions to adopt and implement CECL, we wanted to provide an opportunity to clarify and answer questions that CUs may have surrounding the CECL methodology. CECL reporting must begin no later than the March 31, 2023 Call Report. The webinar will be held on August 17th at 1:00 pm Mountain Time. The registration link is below.
Credit unions should begin preparing now to implement the standard. Boards of directors and senior management should familiarize themselves with CECL to assess how it differs from the credit union’s existing incurred loss model. Once familiar with the standard, they should evaluate different allowance estimation methods to determine which is appropriate, and plan for the potential impact on regulatory net worth. This webinar will address key issues and answer questions that credit unions may have regarding the new regulatory requirement.
This webinar will cover the basics you need to know to get started with a demonstration of the solution that makes it easy.
- What is CECL?
- WARM Methodology
- Accolade Analytics: CECL WARM Demonstration
To register for this free webinar, please click here: https://attendee.gotowebinar.com/register/2990005747726277903
Aux, established in 1992, is a Credit Union Service Organization (CUSO) owned by 55 credit unions, and serves nearly 200 participating clients. We provide a variety of progressive back-office solutions that drive credit union success, like accounting, compliance and data analytics. We are leaders in credit union innovation, cooperation and research. We do the hard work for you. We are Aux Team proud. For more information on Aux, please visit us at auxteam.com or contact us at (720) 945-7235.
Accolade is an advisory service provider that understands the unique needs of credit unions and their leaders. We have provided investment advisory, IRR analysis, and loan analytics to credit unions since our founding in 2007. Today, our services are designed to minimize your busy-work as they help to optimize your financial performance and mitigate risk. Accolade Advisory is a wholly-owned CUSO of Corporate One Federal Credit Union.