THE 'tude

Many credit unions breathed a sigh of relief when the Finaancial Accounting Standards Board (FASB) announced that it would delay implementation of its Current Expected Credit Losses (CECL) standard for credit unions and other non-public entities from fiscal years beginning after Dec. 15, 2020 to Dec. 15, 2021. 

At first glance, the old cliché about the tail wagging the dog comes to mind, and yet, somehow that just doesn’t really quite sufficient. It feels more like a flea on the tail shaking the dog. 

It’s a sad state of affairs today that in our schools we continue to teach children Washington is best known as the capital of the United States, even though that’s really a minor piece of its claim to national and global fame.

While there are a number of Loan Origination Systems (LOS) that tout intuitive, configurable, compliant and efficient solutions, integrating a new LOS platform often proves challenging.

With summer officially here (and with Southland CU in California officially dubbing itself the “Official Credit Union of Summer,” that only leaves three seasons to be snapped up and branded, so hurry), here are a few thoughts and observations as you head to the beach/pool/mountains (and now that I think of it, that also leaves opportunities for your CU to be the “Official Credit Union” of those, as well):

Is it time for you to upgrade your loan origination system? Here are 10 reasons why a tried and true system can work for your credit union.