Volunteer Corporate Credit Union
Nashville, Tennessee - Photo Courtesy of Barry Shulam
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July/August 2018 Issue: Front Page
VolVoice



Feature
Top 5 Reasons to Attend Forum'18
[r]evolution. Forum'18. Aug 22-24 We understand that it's hard to take time away from work. A conference has to be really worthwhile to justify several days out of the office. So, here are the top five reasons attending Forum'18 will be worth your time.

 And the top 5 reasons are...



Seminars/Training
2018 Current Expected Credit Loss (CECL) Training
August 21, 2018 ~ 1:00 - 3:00 p.m. CST
Save the Date
VolCorp will be facilitating a two hour training session to introduce our members to various methods that can be used to update your current ALLL calculation to include CECL compliance requirements. This training is designed with the purpose of introducing spreadsheets and formulas that will allow members with smaller and less complex loan portfolios to build their own models.

2 ways to attend:
  • In person training held at VolCorp's Office
  • Via Webinar


 View complete details and registration information...


Industry Info
Practical points to consider regarding CECL implementation
Accounting gears Feedback from our membership indicates that it's unlikely that many members are in the advanced stages of CECL implementation, where a CECL-compliant model is running parallel to the current ALLL program to assess the standard’s impact.

Some credit unions are still developing an understanding of CECL, while others are comparing in-house resources versus vendor capabilities. Regardless of your progress, we'd like to share a few practical points that often seem overlooked.

 Read more...


Operations
Important Changes to Regulation CC
ATTENTION This Has Changed! On June 15, 2017, the Federal Reserve Board published its long-awaited final amendments to Reg CC. The 232-page rule became effective July 1, 2018 and updated the check collection and return provisions to reflect the evolution from a paper-based system to the electronic check collection system prevalent today.

The amendments contain a number of changes that will impact your credit union such as modifications to check return requirements, additional warranties, and new indemnities including a new indemnity for Remote Deposit Capture (RDC). Highlights of these changes include:

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Corporate Update
VolCorp Volunteers with Youth Villages
VolCorp employees recently volunteered to spruce up a Youth Villages group home, working on a variety of projects including staining the deck and front porch, gardening, pressure washing and overall property beautification.

9 volunteers came out and put their commitment to Youth Villages to work. As a result, they left the property with a fresh new look on the front and rear entrances, in the mulch beds and at the front of the house.

 Read more...



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