What we have seen in 2018: + Credit unions have seen a rise in profitability continue to stabilize in 2017 when compared to the prior year. Through the first six months of 2018, credit unions have maintained a return on assets of 0.90%, up 14 basis points from a year ago. + For the first...

What We Have Seen in 2017 Credit unions have seen their profitability continue to stabilize in 2017 when compared to 2012. Through the first six months of 2017, credit unions have maintained a return on assets of 0.76% which is almost what it was a year ago. For the first half of 2017 the interest...

In June of 2016 the Financial Accounting Standards Board (FASB) finally issued its pronouncement on the Current Expected Credit Loss (CECL). Although this pronouncement does not go into effect until the year 2021 this is not something you should put on the back burner. CECL is going to take time and planning in order to...

What we have seen in 2015: Credit unions have seen their profitability continue to stabilize in 2015 when compared to 2014. Through the first six months of 2015, credit unions maintained a return on assets of 0.80% which is exactly what it was a year ago. For the first half of 2015 the interest margins...

Accounting for mergers under the old accounting rules wasrelatively straightforward. To form the combined entity, the book values of the acquiring and acquired credit unions were added together. Beginning in January 2009, this “pooling of interests” accounting was replaced with the more complex “purchase accounting.” Under the purchase accounting rules, the acquired credit union and...

Many companies spend a lot of time and money creating mission statements to highlight their products and services and align employees around a common vision. But the fact is that many mission statements fail, becoming nothing more than a wall ornament or a bunch of words tucked into a seldom-read company handbook. For the most part,...