Professional Services for Credit Unions
Operating in the competitive credit union industry has its challenges, and staying focused on key initiatives can be difficult with increasing regulatory pressure, mounting technology concerns and elevated volatility in the marketplace.
Aligning yourself with a partner who understands your business and can help you navigate through tough issues might be one of the most important business decisions you will ever make. At Brown Smith Wallace, our dedicated financial services team can deliver solutions and help you address key issues impacting your organization:
- With the popularity of mobile banking and remote access to information, credit unions are faced with evolving risks and challenges in data security. Let our fully staffed IT security department help you analyze your infrastructure and overall IT security profile to mitigate risk associated with these and other high risk areas where you might have exposure.
- Pending changes to the impairment model from “incurred losses” to “expected losses” could result in larger ALL balances for many credit unions. Our team can assist in evaluating the current design and methodology of your ALL program as well as provide assistance to ensure compliance with new accounting requirements.
- In May 2012, the NCUA Board approved a final rule requiring federally insured credit unions to maintain written policies that address the management of loan workout arrangements and non-accrual policies for loans. Our team monitors NCUA developments and can help you and your team comply with new and amended regulations.
Brown Smith Wallace currently serves more than 70 financial service industry audit and tax clients, including credit unions, banks, insurance companies, broker-dealers and registered investment advisers Our financial service team provides our clients with unparalleled expertise that truly makes a Measurable Difference ™.