COVID-19 is already having a huge impact on the economy. But closer to home, how is it likely to affect your credit union’s financial health? Join us to learn more about the impact and how to monitor key financial gauges during this epic disruption.
Plan to join your peers on April 6 for the Financial Risk During Widespread Disruption: What the Board & Management Should Monitor webinar.
This webinar will enable you to:
– Find what the key causes of rapidly declining capital are
– Negotiate the mark-to-market accounting, and understand what declines in investment market value will mean to your capital and income
– Consider the suddenly changing allowance for loan losses (ALLL) climate and why recent historical models won’t provide the allowance you will probably need
– Understand why attracting deposits right now may be counter-productive for your credit union
– Create teams to handle specialized areas and work to protect both the members and the credit union
– Create scenario balance sheets based on different near-term possibilities
It is important that the board and management have a broad, up-to-date set of gauges to provide a window into the credit union’s key financial issues as this crisis progresses. Having this information available will allow for faster and better decisions. Now is not a time to panic – there may even be opportunities in this chaotic period. But good data and information are the keys to keeping your credit union from becoming a COVID-19 victim.