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Lending Data & the Credit Union Mandate

Lending Data & the Credit Union Mandate

The very first provision of the Federal Credit Union Act declares that, in addition to promoting thrift, credit unions exist to create a source of credit for members to be used for provident or productive purposes. The lending department is key to credit unions fulfilling this mandate. Your credit union’s loan products help members build…

The Time Is Now to Prioritize Technology for the Future

The Time Is Now to Prioritize Technology for the Future

With the economy improving, the unemployment rate being the lowest it has been in nine years, and consumer confidence building momentum, credit unions continue to experience steady member and loan growth, low delinquencies and charge offs. These are all very positive signs, but can foster a false sense of security if not careful.  History has…

Predictive Modeling – Important Questions that CUs Need to Ask

As you know, the new CECL guidance calls for estimating life of loan losses for the ALLL reserve.  “Life of Loan” — just three simple words — but its implementation is anything but simple. Many factors within your portfolio can, and often do, affect loss estimates.  For example, the age of the loan, borrower’s credit…

CECL – Not Your Mom’s ALLL Calculation

CECL (Current Expected Credit Loss) is an ongoing, pervasive topic when I sit down and talk with credit unions. I believe this is partly because many are nervous and unsure of its potential impact, and how to start preparing for it. There is a ton of information floating around on the subject; some accurate, some…

Six Essential Steps for Passing Your Next NCUA Examination

Six Essential Steps for Passing Your Next NCUA Examination

You want to pass your next NCUA exam with flying colors, but not sure where to begin? Here are six important steps that your credit union needs to follow to ensure that you are ready for the examiners when they show up on your doorstep. Start Preparing Early One of the biggest mistakes that I encounter…

Ready or Not, Here Comes CECL

Ready or Not, Here Comes CECL

We’ve all heard it before, “Don’t put off until tomorrow, what you can do today.” This is easier said than done. It seems, more often than not, completing a presentation for our boss, and dare I say even filing our taxes, can easily become an afterthought. With the idea that we have days, months, and…

Data Governance – Who Owns the Data?

As credit unions get on board with Big Data and realize the benefits and value of the data they have at their disposal, there continues to be quite a bit of struggle with developing a program to store the right data, and retrieve and successfully utilize the data they collect. Beyond these challenges, data sources…