CECL is Coming: Are You Ready?
The Credit Union National Association (CUNA) interviewed Douglas Winn for the May 2017 issue of the Credit Union Magazine, highlighting the Current Expected Credit Loss (CECL) model.
The focus of the article is the significant change that CECL will bring to how credit unions calculate their loan reserves. The article also urges credit unions to begin early planning to account for the changes, including reviewing balance sheet concentrations, collecting and validating your data, choosing the right models, creating a project plan and educating yourself and key stakeholders.