Credit Union
Credit unions face increasingly complex regulatory and financial reporting requirements, making the need to work with advisors who understand the industry more compelling than ever. ARB’s credit union advisory services team recognizes these challenges and delivers services that are customized to each organization’s needs.
How We Do It
CUSOs play an important role in servicing your members and supporting future growth, so proper planning prior to implementation will help your CUSO be successful.
Documenting and producing internal control and procedures manuals and internal audits.
How We're Helping Our Credit Union Clients
CECL: Planning for compliance with the new Current Expected Credit Loss (CECL) standard involves selecting a compliance methodology, understanding the data in your loan portfolios, and evaluating whether to calculate the allowance in-house or invest in CECL software. We partner with IT specialists to provide customized services to clients.
Mergers: As the marketplace changes, we see more mergers happening. The old days of just combining the two existing balance sheets to create the new credit union have gone away. Today’s accounting requires the merged-in credit union’s balance sheet to be recorded at fair value. Our experts help you through the process of understanding how the adjustments to fair value impact the new credit union’s balance sheet and future operations.
Loan Officer Tax Training: Loan officers who frequently see complex tax returns during the underwriting process are benefiting from our free tax training on how to accurately determine a borrower’s monthly income (and more).
BSA/AML Compliance: Numerous authoritative agencies have been and will continue to focus many of their efforts on improving the process, regulation, and supervision of BSA and AML. We help credit unions maintain compliance with authoritative guidance and regulatory requirements for these and other evolving regulations.
Credit Union Advisory Services Team Leaders
Holly D. Ferguson, CPA | ARB Principal
Credit Union Advisory Services Practice Leader
Holly is actively involved in the credit union industry and specializes in helping credit unions with financial reporting, compliance, and mergers. Holly’s industry expertise involves providing comprehensive services, including financial statement audits, supervisory committee audits, internal audits, Bank Secrecy Act independent testing, and consulting for mergers.
