Also: NCUA updates FAQs for CECL, tool; FOMC begins 2-day meeting, 25-basis point hike expected

January 31, 2023

NAFCU-sought CUBMA among first bills passed by Congress in 2023 ([link removed] )

Continuing the momentum built by NAFCU’s advocacy last session, the House Monday passed the Credit Union Board Modernization Act (CUBMA), which reduces the minimum number of monthly meetings credit union boards are required to hold from 12 to six. The legislation now heads to the Senate for consideration.

NCUA provides more insight for new CECL tool ([link removed] )

The NCUA yesterday updated the frequently asked questions for both the current expected credit loss (CECL) standard and the simplified CECL tool that the agency released in September. The updates provide more clarity on CECL and the simplified tool, including information on precedents for establishing a fiscal year to be other than a calendar year, negative loss rates, monthly use of the tool, and more. The tool is intended to help credit unions comply with the Financial Accounting Standards Board’s CECL accounting standard.

FOMC expected to slow down pace of rate hikes ([link removed] )

The Federal Open Market Committee (FOMC) – the Fed’s monetary-policy setting arm – begins its first meeting of 2023 today and is expected to raise rates another 25 basis points.

Engage 2023: NAFCU’s Annual Conference ([link removed] )

Unforgettable experiences await your spouse/guests in Southern California. Plus, enjoy an extra tour you can enjoy together to see the best of the area alongside your spouse/guests! You’ll also discover solutions to help you build a bigger, better CU.

Save $200.00 with code ENGAGESAVINGS for a limited time only!

View Agenda ([link removed] )

Retaining Customers Throughout Technology Upgrades & Conversions_167x300 (1)-1 ([link removed] )

NAFCU CALENDAR ([link removed] )

FEB

1
Don’t Wait: Put Pen to Paper on Your FedNow Service Plans ([link removed] )

Complimentary Webinar

FEB

2
How to Leverage Loan Participations in a Low Liquidity Environment ([link removed] )

Complimentary Webinar

FEB

7
Measure Liquidity Strategically: What’s Your Plan? ([link removed] )

Complimentary Webinar

FEB

7
Preemption: The Uncertain Landscape ([link removed] )

Webinar

NAFCU Vendor Directory Compliance ([link removed] )

Risk Management Seminar ([link removed] )

The Bluegrass is calling! Louisville, KY | August 15 – 17, 2023

Prepare for the most severe internal and external threats ([link removed] ) and earn your NAFCU Certified Risk Manager (NCRM) ([link removed] ) credential when you pass the exam -- or recertify by attending (no exam required).

Save $200.00 with code RISKSAVINGS ([link removed] )

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