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April 27, 2017

At CEOs Conference: Credit union leaders receive Washington Update, learn tactics

Credit union leaders at NAFCU's CEOs and Senior Executives ConferenceThursday received a Washington and Industry Update and were briefed on what they need to know regarding the Financial Accounting Standards Board's current expected credit loss (CECL) accounting standard.

How millennials discuss financial services was also addressed during the day's program.

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Top: Keynote speaker Drew Dudley discussing new leadership tactics at NAFCU's CEO's and Senior Executives Conference.

Bottom: NCUA Board Member Rick Metsger provided an update to attendees regarding the agency's latest rulemakings yesterday. (photos by Andrew Milne)

The day's program was kicked off by NAFCU President and CEO Dan Berger, who was then teamed up with association Executive Vice President of Government Affairs and General Counsel Carrie Hunt for the Washington and Industry Update. The two discussed the latest challenges facing the credit union industry and NAFCU's ongoing dialogue with lawmakers and regulators, including the NCUA and the CFPB, as well as the Trump administration.

Drew Dudley, author, founder and chief catalyst at Day One Leadership delivered a keynote address discussing practical insights on how successful leaders create cultures of leadership in their own lives and within their organizations. He also focused on how credit union leaders can create their own style of leadership and how their leadership tactics can create a winning and successful culture.

Mastercard's General Counsel and Chief Franchise Officer Tim Murphy also spoke Thursday, and gave suggestions to credit union leaders on how to engage and strengthen their relationships with consumers through digital payments while maintaining their brand's reputation. Allied Solutions President and CEO Pete Hilger shared key insights on how credit unions can generate non-interest income and five ways credit unions can increase their bottom lines for growth.

Attendees also heard from NCUA Board Member Rick Metsger, who discussed the agency's rulemaking activities and their impact on credit unions and members, including exam flexibility and field of membership reform.

The CECL session, "CECL – An Overview of What CEOs Need to Know," was presented by NAFCU Chief Economist and Director of Research Curt Long; Prescient Models, LLC Founder & CEO Dr. Joseph Breeden; and Deep Future Analytics LLC President/CEO Dale Fosselman. The panel gave an overview of the new standard and covered factors credit unions need to use to estimate the expected credit loss over the life of a loan, including historical loss information and current conditions. Forecasting models were also discussed.

Filene Research Institute Chief Impact Officer Tansley Stearns closed the day's program with a look at how millennials talk about financial services and the current trends relating to their financial practices. She also gave suggestions on how credit unions can help millennials make smarter financial decisions about borrowing and saving.

Today, credit union leaders will hear keynote speaker Kevin Brown discuss leadership principles that will help them create a higher culture of excellence at every level in the organization.

NAFCU's 2017CEOs and Senior Executives Conferencesignature sponsor is CUNA Mutual Group. Other conference sponsors include Affinion Group and Q2.

The conference concludes today. Next year, the CEOs and Senior Executives Conference will take place April 18-20 in Napa, Calif. Stay updated.