C.myers corporation, a national leader in strategy and real-time ALM decision information, has released an article entitled, Life After CECL: 3 Strategic Ramifications to Consider.
The paper explores the critical strategic side of CECL, which has received far less attention than CECL data-gathering and calculation methodologies. CECL is much more than a one-time adjustment to net worth and a change in accounting procedures. Its effects can reverberate all the way to the boardroom causing:
- A disconnect between financials and ultimate financial performance
- Increased volatility in the financials in an economic downturn
- A significant mindset shift in how success is measured
Don’t let CECL undermine the strategic focus of the credit union. To read this article and others, please visit our c. notes page.
C.myers has partnered with credit unions since 1991. Their philosophy is based on helping clients ask the right, and often tough, questions in order to create a solid foundation that links strategy and desired financial performance.
They have the experience of working with over 550 credit unions, including 50% of those over $1 billion in assets and about 25% over $100 million. C. myers helps credit unions think to differentiate and drive better decisions through real-time ALM decision information, financial forecasting, liquidity services, strategic planning, strategic leadership development, process improvement, and project management.