CECL preparedness – where should you be now?

I regret that we must cancel the CECL webinar scheduled for February 19.

CUNA scheduled the webinar to provide credit unions with important information directly from NCUA so they may better understand the new CECL requirements. Unfortunately, we must cancel this webinar because our featured speaker, Alison Clark, the National Credit Union Administration’s Chief Accountant, has become unavailable.  
 
CUNA is making every effort to facilitate the flow of information from NCUA to credit unions. Unfortunately, the agency informed us that its resources are better spent elsewhere, and that its participation in this webinar was not a proper expenditure of its resources. We received this communication from NCUA with little notice and after it had already confirmed its participation.
 
We support and encourage outreach and education on CECL and other important topics, whether NCUA performs outreach directly or through CUNA. Providing fewer resources will only harm the industry that NCUA was formed to regulate and promote.
 
CUNA remains committed to helping you prepare for CECL compliance.  Our advocacy efforts have resulted in a standard that is narrower than what was originally proposed and a compliance deadline that has been extended to the end of 2021.  We will continue to develop and offer education and compliance related materials to help your credit union transition to this new standard and will reschedule this webinar with another expert.
 
For more information regarding NCUA’s outreach on this matter, contact Mark Treichel, NCUA’s Executive Director (markt@NCUA.gov).  For more information from CUNA staff, contact Luke Martone (lmartone@CUNA.coop) or me.
 
I apologize for any inconvenience.

Lacinda Athen
Manager - Member Relations & Engagement
CUNA Councils
lathen@cuna.coop



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