Webinar set for May 3 on simplified CECL tool for small credit unions

An hour-long webinar on a simplified tool to help small credit unions implement the current-expected-credit-losses (CECL) accounting standard is slated for May 3 and open for registration now, the National Credit Union Administration (NCUA) said Tuesday in an NCUA Express announcement.

The free webinar is set to begin at 12:30 p.m. Eastern. During the session, the agency’s acting chief accountant within the Office of Examination and Insurance, Chris McGrath, will demonstrate the Simplified CECL Tool and discuss topics such as the tool methodology; net charge-off rates; and examiners’ expectations.

The agency said the tool was developed to help credit unions with developing their allowance for credit losses on loans and leases as required under CECL. The tool is designed primarily for credit unions with less than $100 million assets.

More details, such as how to submit questions and a link to registration, can be found on the agency’s website.

May 3 Simplified CECL Tool webinar