On this page you will find resources related to the Current Expected Credit Losses rule (CECL) created by the Financial Accounting Standards Board (FASB) to promote more accurate provision for loan and lease losses. There are many sites on the Internet with CECL resources, and lots of educational webinars. This page provides resources developed specifically for small credit unions that wish to implement their own CECL solution.
The National Credit Union Association (NCUA) has indicated that smaller, less complex credit unions should be able to perform their own CECL calculations (that is, they won't have to pay a vendor for the service), and that their method for doing so can be less complex than a larger credit union with more varied and complicated products and services.
We have partnered with another state association that has developed and shared with us some CECL resources geared toward helping small credit unions across the country meet the new CECL requirements. We think these resources can be a game changer for credit unions in the Dakotas:
While it will likely take some work for a credit union to get this system set up, we believe that it's completely doable by a credit union that can get the right data and has the patience and spread-sheet know-how. Once the system and spreadsheets are set up, it should take relatively minimal effort on an ongoing basis.
Note that these resources are provided to members free of charge. You are welcome to use them as you see fit, as long as you do not
charge for any of the resources. That is, please do not re-distribute them for any kind of fee.
The National Credit Union Association (NCUA) has indicated that smaller, less complex credit unions should be able to perform their own CECL calculations (that is, they won't have to pay a vendor for the service), and that their method for doing so can be less complex than a larger credit union with more varied and complicated products and services.
We have partnered with another state association that has developed and shared with us some CECL resources geared toward helping small credit unions across the country meet the new CECL requirements. We think these resources can be a game changer for credit unions in the Dakotas:
- Spreadsheets demonstrating methods
- A primer detailing the information behind the spreadsheets
- Videos walking you through the primer and spreadsheets
While it will likely take some work for a credit union to get this system set up, we believe that it's completely doable by a credit union that can get the right data and has the patience and spread-sheet know-how. Once the system and spreadsheets are set up, it should take relatively minimal effort on an ongoing basis.
Note that these resources are provided to members free of charge. You are welcome to use them as you see fit, as long as you do not
charge for any of the resources. That is, please do not re-distribute them for any kind of fee.
