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Making the transition to CECL is a major undertaking for credit unions from an operational standpoint. Doeren Mayhew’s credit union CPAs provide a holistic approach to help take your credit union from concept to implementation. Building the foundation to meet the requirements of this standard will force credit unions to develop systems with the ability to handle key inputs. Having loan-level and risk-rating assessment capabilities, appropriate environmental and industry factors, and robust historical data are all critical inputs for consideration.

Preparing for Launch

Doeren Mayhew’s CECL Readiness Solution is a systematic, phased approach to help your credit unions prepare for these changes by assessing your readiness and identifying the impact, data needs, strategic opportunities and decisions that CECL will create for your business.

Phase One – CECL Readiness Overview
Gain insight on the requirements of CECL.

Phase Two – Strategic & Tactical Planning
Explore data readiness needs and strategic opportunities.

Phase Three – Data Readiness Assistance
Leverage outsourcing resources if needed for data cleanse and project management.

Phase IV – Modeling Solutions
Examine modeling solutions, such as ALM First’s CECL Pro.

If you want help understanding the impact of CECL and preparing for a seamless transition, contact Doeren Mayhew’s credit union advisors for more information on CECL readiness advisory services.

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