The coronavirus is having an extraordinary negative impact on the economy, but exactly what type of disruption is it having on credit unions?

The New York State Credit Union Association, through a partnership with the Credit Union Webinar Network, is offering a webinar on credit unions’ financial risk during times of widespread disruption, and registration is now open.

The webinar, “Financial Risk During Widespread Disruption: What the Board & Management Should Monitor,” will be held from 3 to 4:30 p.m. on April 6.

During the webinar, credit union professionals can learn about the impact of widespread disruption on the economy and how to monitor key financial gauges during times of disruption, including the current coronavirus pandemic. The webinar will enable participants to:

• identify the key causes of rapidly declining capital;
• negotiate the market-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 climate and why recent historical models won’t provide the allowance you will probably need;
• understand why attracting deposits 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; and
• create scenario balance sheets based on different near-term possibilities.

For more information or to register for this webinar, visit the Association’s website.

As a reminder, the Association is again providing two complimentary webinars to all member credit unions in 2020. Each member credit union has received two unique promotional codes that can be used to purchase any two live or recorded webinars from the 2020 webinar lineup. These promotional codes are valid through December 31, 2020. To learn more about the complimentary webinar access, visit the Association’s website.