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Nashville, Tennessee - Photo Courtesy of Barry Shulam
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March/April 2018 Issue: Front Page

Credit Loss Estimates and Available-For-Sale Securities
a page of Spreadsheet tables and charts with a calculator and magnifying glass on top While the preparation emphasis for the Current Expected Credit Loss (CECL) standard in natural person credit unions is justly focused on loan portfolios, we'd like to briefly turn your attention to assessing credit losses for available-for-sale (AFS) debt securities. Ultimately the Financial Accounting Standards Board determined that CECL will not apply to AFS securities, and instead regrouped and modified the related guidance under subtopic ASC 326-30. Credit unions that invest in AFS debt securities typically seek high credit quality issues, however it's worthwhile to consider a few points as you prepare for this upcoming standard.


Industry Info
Jackpot! You Lose!
ATM machine with money flying out of it Have you ever been in a casino and heard someone scream, "JACKPOT!!!!" It can be an exciting time for both the winning person and those around them. But there's a new kind of jackpotting initiated by cyber criminals and it’s costing credit unions money.

ATM "jackpotting" - a new scheme initiated by robbers who can control ATMs remotely to churn out cash on command - has been a threat for banks in Europe and Asia for some time now, but these attacks have not been a concern in the U.S. Until now.


Service Spotlight
Mobile Remote Deposit Capture; A Game-Changing Strategy
Taking a photo of a check with a smartphone Remote Deposit Capture is not a new technology. In fact, as a practice, it first became legal in the United States in 2004 --- the same year Facebook launched and 3 years before the first iPhone.

In 2004, Remote Deposit Capture (RDC) was used on desktops as a way to deposit checks to financial institutions without visiting a branch. In 2018, the purpose of remote deposit is much the same; however, better technology and a higher degree of customization have led to a much superior, almost indispensable product for credit unions.


Corporate Update
Save the Date for VolCorp's Forum'18!
August 22 – 24, 2018
Save the Date!  Forum'18: August 22-24, 2018
Save the Date! Forum'18 will be held August 22nd – 24th at the Loews Vanderbilt Hotel in Nashville. All members are invited to attend VolCorp's Annual Meeting on Wednesday at 3:00 pm. Thursday and Friday will consist of the exhibit hall, several pre-conference sessions, plus four exciting main sessions.

We have an exceptional conference planned with speakers on the following topics:


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