THE 'tude

Diversity gets a lot of attention in credit unions, and it should (although let’s not confuse attention with action. Stop for a moment and look around at any major credit union meeting and Rainbow Coalition it’s not.)

As the credit union industry experiences record-setting growth and continues to absorb more of the leading company market share, competition is as fierce as ever – both in terms of securing new clients and recruiting talented employees.

I’m often wrong, but why do I have a feeling will someday be publishing this headline: “NCUA Board Votes to Push Back Risk-Based Capital Compliance Deadline to Jan. 1, 2119; Trade Groups Say More Time Needed.”

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.