Helping Borrowers Affected by COVID-10

Now is the time where proactive, constructive assistance to borrowers is needed and in doing so, will demonstrate the Credit Union difference. Preemptively working with your members to help them with short-term solutions not only helps them, it may mitigate future economic impact to your credit union. We have assembled a few key resources that [...]

Helping Borrowers Affected by COVID-102020-03-24T20:06:47+00:00

Is This Loan Modification a TDR?

All TDRs are loan modifications, but not all loan modifications are TDRs. There are certain factors that must be considered when determining whether to classify a modified loan as a TDR. We've created a simple flowchart as an aid. This flowchart does not address all issues and should be used as a guide only. Click [...]

Is This Loan Modification a TDR?2020-03-17T15:42:52+00:00

2018 NCUA Equity Distribution

NCUA Equity Distribution Rule (12 CFR 741) On March 7, 2019, the NCUA Board announced a 2018 $160.1 million Share Insurance Fund equity distribution to all eligible financial institutions. Under final rule Part 741, which created a temporary provision governing Share Insurance Fund equity distributions related to the Corporate System Resolution Program, the NCUA Board [...]

2018 NCUA Equity Distribution2019-04-15T14:46:35+00:00

NCUA EQUITY DISTRIBUTION

NCUA Equity Distribution Rule (12 CFR 741) Last September, the National Credit Union Administration (NCUA) Board voted to close the Temporary Corporate Credit Union Stabilization Fund (TCCUSF) prior to its expiration in 2021. With its closure, the Fund’s assets were transferred to the Share Insurance Fund (NCUSIF). At that same meeting, the Board also approved [...]

NCUA EQUITY DISTRIBUTION2018-04-02T13:58:50+00:00

News Blast – CECL

-CECL HAS FINALLY ARRIVED- Accounting Standards Update (ASU) No. 2016- 13, Financial Instruments– Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments Overview As you have probably heard, after many delays, the Financial Accounting Standards Board (FASB) finally issued a new standard for measuring credit losses on financial instruments. Although many efforts were [...]

News Blast – CECL2017-05-07T14:42:10+00:00