Press
First Carolina announces Milestone client for ALM Solutions
GREENSBORO, NC (March 12, 2015) — First Carolina Corporate Credit Union (FCCCU) is pleased to announce their 50th ALM (Asset Liability and Management) client. Premier Federal Credit Union has signed on to ALM Direct, part of the ALM Solutions offered by FCCCU.
Premier Federal CU, based in Greensboro, NC, has assets of $160,000,000 and is led by CEO Lori Thompson. The credit union serves more than 400 companies in North and South Carolina and more than 24,000 members like you.
ALM Solutions are becoming increasingly important as credit unions must continuously monitor and manage the risk to ever more complex balance sheets. Credit union staff and boards are challenged by limited resources as the time needed for ALM management increases. First Carolina Corporate exists to support credit unions with needed resources and expertise.
ALM Direct, an internet-based solution, provides the advantages of both an in-house and outsourced models. We process data, deliver ALM reports, analyze results and provide expertise to the modeling process. The client has online access to the model, with an in-house capability to update assumptions and perform “what if” income simulations as needed.
ALM Direct features include:
· Reporting – a complete solution for all Asset/Liability and earnings forecasting needs.
· Summary Report – Our expert analysts will review your reports and create an easy to understand summary to be used for your ALCO.
· Market Scenarios – a tool that allows control of ALM and forecasting assumptions
· Business Scenarios and Modeling – enables member to define a custom balance sheet, and growth and reinvestment rules.
First Carolina Corporate’s other ALM services include consulting and model validation. Our ALM Consulting service offers customized assistance to meet your needs. Our analysts can provide policy development or review; identify interest rate risk limits and establish assumptions. In addition, our ALM Consulting service can provide report review and written analysis to help interpret the interest rate risk position of the credit union. Specific education and training is also available for credit union staff, boards and the Asset and Liability committee.
ALM Model Validation from First Carolina focuses on interest rate risk modeling. It strengthens reliance on the ALM model to help make sound business decisions and satisfies regulatory requirements. With a validation, areas of potential weakness are identified along with recommended changes to improve the accuracy of the model and limit model risk.
At First Carolina Corporate Credit Union, our primary purpose is to provide our member credit unions with opportunities for mobilizing and managing liquidity, financial, and payment system services that enable them to compete and prosper in the financial marketplace.