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SCMS Alumni and Cornerstone Members Invited to Join Class of 2018 for Complimentary SCMSAA Symposium on CECL
Tuesday, July 10, 2018 6:50 AM

Alumni, alumni guests, and this July's class of Southwest CUNA Management School graduates are invited to a special SCMSAA Symposium on July 18, where guests will enjoy a lively panel event called "CECL: Are you Prepared? The Biggest AHAs and Lessons Learned from Your Peers."

Facilitator Sean Cahill will be joined by industry experts Sean Duffy (CU Direct), Rachel Messick (Visible Equity), and Paul Withey, Ph.D. (Withey Consulting Group).

By all accounts, the upcoming changes from the Financial and Accounting Standards Board will be momentous. Effective Jan. 1, 2021, FASB is instituting the new accounting standard for how credit unions reserve against loan and investment losses called Current Expected Credit Losses, or CECL. This new model will change how credit unions analyze and account for losses and prepare financial statements. 

Indeed, it's a dramatic move from your current ALLL (Allowance for Loan and Lease Losses), which models your reserve based on historical incurred losses and transitions to an expected-loss model based on cash flows over the life of the loan. This transition will bring significantly greater data requirements and changes to internal methodologies to accurately account for expected losses under the new parameters.

At the SCMSAA Symposium, you'll hear from credit unions of all sizes, as well as other subject matter experts, as they discuss lessons learned while preparing for this historic change. 

Get special pricing, compliments of the SCMS Alumni Association and Cornerstone Credit Union League. The Symposium is free to SCMS alum and all credit union professionals who are members of the Cornerstone Credit Union League.

Register for the SCMSAA Symposium.

For additional information about the SCMSAA Symposium, please contact SCMS Director and Synergist Janine McBee at 800-442-5762, ext. 6634, or 469-385-6634, or via email at jmcbee@scms.coop.

Come for the Golf, Stay for the Fun

Come in early on Tuesday, July 17, for the 30th Annual SCMS Scholarship Golf Classic, and stay for the annual dinner, reception, and scholarship auction Tuesday evening.

First, plan to tee up at:

TopGolf
2201 E. 4th St.
Fort Worth, TX  76102
Online Registration

For additional information about the golf tourney, please contact Luke Campbell at 214-580-9929.

Student and Alumni Networking Reception, Dinner, and Scholarship Auction

Theme: Taco 'bout a Party – Dress in your best Fiesta attire!
Hosted by SCMS Class of 2019 | Sponsored by Catalyst Corporate FCU

Where? TCU – Brown Lupton University Union at the Kelly Alumni Center

  • 6–6:30 p.m.  Hosted bar with margaritas, sangria, and more
  • 6:30–8:30 p.m.   Cash bar
  • 6:30–7:15 p.m.  Buffet Dinner
  • 7:15–9 p.m.  Annual Scholarship Auction

Price per person:

For additional information about the networking reception, dinner, and scholarship auction, please contact Lori Schirpke-Jordan at 469-385-6639.