COLUMBUS, Ohio — Accolade Asset/Liability Advisory Services has introduced a new service, Loan Advisory, which helps credit unions comply with adjustments to the way ALLL is calculated under the new CECL (current expected credit loss) rules proposed by FASB. Accolade said it is the first organization to offer a comprehensive, forward-looking ALLL service tailored to small and mid-sized credit unions that is more than just accounting compliance.
“Accolade’s Loan Advisory provides credit unions comprehensive, forward-looking management for every aspect of their loan business, including ALLL accounting, credit-risk management, and portfolio management,” said Accolade CEO and Board Chairman Joe Ghammashi. “Credit unions can even use the data the service provides to create proactive, targeted marketing opportunities to their members. Overall, our Loan Advisory service is designed to be prospective rather than retrospective to help credit unions plan for future success.”
Accolade, founded in 2007, is a wholly owned credit union service organization (CUSO) of Corporate One Federal Credit Union.