By matthew jacobsen - VP
In the past couple of years, credit unions have been inundated with the onset of the new FASB CECL standard. Planning process elements include: developing an understanding of the new standard, engaging the necessary credit union team members, assessing the data requirements, deciding what model/methodology to incorporate, and implementation, to name a few.
As with many many in-house versus outsourcing decisions, there are numerous other considerations. Having the ability and resource may still not make it the best decision for the credit union.
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By Cynthia R. Walker - CEO
Choosing a vendor or finding solutions in areas such as ALM, CECL, big data analysis, vendor management, and strategic planning, to name a few, can be compared to getting that “right pair of shoes”. The first step is to define your credit union’s needs and to identify any unique characteristics that must be allowed for in the purchase decision. Then, become educated on the subject. Read the regulations or other source documents, ask questions, talk to peers and industry experts, etc. to gain a good understanding of the subject. Next, assign a person or team responsible for managing the decision and process. Buying a pair of shoes did not require a committee, nor was it as technical as choosing ALM related solutions or vendors, but the processes have similarities.
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By scott butterfield - My Credit union Partner - guest Author
Strategic planning season is underway, which means more of us are immersed in research, evaluation of data, and best practices to make sure our teams have the depth and breadth of relevant knowledge needed to chart our future and shape a successful strategic plan.
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CECL Affordable and Easy
You don't need an expensive and difficult CECL solution
The MHSI CECL solution:
- Easy to read with understandable results
- Multiple methodologies & peer data comparisons
- Compatible with any available data
- Loan-level detail analysis
- Online functionality allowing for further analysis including:
Drill down Segmentation What-if
- Stress testing scenarios
- No software maintenance or data storage requirements
- No Setup Costs
- Both comprehensive & affordable
Pick the solution that's right for your credit union
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Fall 2018
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Upcoming Webinars
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CECL-Choosing the Right Solution for Your Credit union Wed, Oct 10, 2018 12:00–1:00 PM MDT
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Strategic Planning - How to Improve for Greater Success Thurs, Oct 18, 2018 1:00–2:00 PM MDT
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Asset & Liability(ALM) providers-Items to consider when evaluating & choosing the best approach for your CU's needs Wed, Oct 24, 2018 12:00–1:00 PM MDT
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Customized Peer Analysis & Loan & Deposit Analysis -How Market Intelligence Can Help Your Credit Union Succeed Wed, Nov 14, 2018 12:00–1:00 PM MST
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Understanding & Utilizing the Results of Your ALM/IRR Analysis Wed, Dec 12, 2018 12:00–1:00 PM MST
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