Explaining Credit Union Allowance for Credit Losses and CECL
As Financial Literacy Month kicks back off, Esteban Camargo continues his education series on the inner working of credit unions by examining Allowance for Loan and Lease Losses and Current Expected Credit Loss.
Budgeting for the Budget
There’s more prep and planning needed when making a budget than most people realize, and there are many items and considerations that go unaccounted for. Amber Jecks offers tools and tips on how to create a budget that meets your goals and plans for the unexpected.
From Pencil to Paperless: Changes in Accounting Technology
Becky Frankowski reflects on 30 years in accounting, how systems and technologies have changed during her tenure, and what concerns there might be surrounding these changes.
Trust, But Verify: How Not to Potentially Lose Out on Thousands
Are you putting your credit union at risk for losing thousands of dollars? Cody Smith argues that failing to validate results after a software change is released can lead to big losses over time.
The Budget, the Business Plan, and What It Means to the Everyday Employee
Understanding your organization’s budget and business plan is not just for upper management. Matt Weber shares why he thinks understanding both can be advantageous from CEO down to line staff.
The Key to Finance Variance Reporting
What exactly goes into a good report on variances in a company’s finances? How do you make it informative but not overwhelming or dull? Thankfully, Becky Frankowski is here to share the best tips for writing one.
Considerations and Pitfalls of Branch Accounting Strategies
Branch accounting may be the next hot ticket item among NCUA examiners. Keegan Daniel explores some considerations and pitfalls to performing branch accounting at your credit union.
The Key to Internal Fraud Controls? Get Back to the Basics
Due to recent high profile embezzlement cases, Jim Vilker argues that what the industry really needs is to slow down, check all the boxes, and get back to the basics of internal auditing.
How Important is Budgeting to a Credit Union’s Financial Success?
Budgets determine the money, and money determines success, right? Becky Frankowski discusses the purpose of a credit union’s budget – and whether or not it’s essential to their financial success.
