Arlington, Va. –(June 11, 2019)–NAFCU Services has selected ARCSys as the Preferred Partner for CECL software. ARCSys created the SaaS ACL Calculator that enables credit unions to efficiently determine and address CECL requirements. Three panels of leading credit union CEOs carefully examined and approved ARCSys for the NAFCU Services Preferred Partnership.
“With mounting pressures of the CECL standard, credit unions need a trusted partner to help comply with these regulations,” said NAFCU Services President, Randy Salser. “We’ve gotten to know the ARCSys team and their technology very well, and we are thrilled to welcome them as our newest Preferred Partner.”
The partnership will feature an educational series with experts in accounting, audit, regulatory, and security standards—helping credit unions understand, plan for, and implement compliant CECL solutions.
President and CEO of ARCSys, Michael Umscheid, commented, “Access to education on the latest CECL information is more vital than ever for financial institutions. Credit unions have been core to our mission since our founding, and ARCSys is committed to providing the NAFCU membership with constantly updated facts, guidelines, and tools to stay ahead of the standards.”