News & Events

CECL Implementation Delayed to 2023

As you may know, FASB recently announced a temporary reprieve of the CECL implementation, extending it to January 2023.

AIM has been evaluating credit union CECL solutions for some time now, but due to the potential for implementation extensions, like the one that just occurred, and possible elimination of the requirements, they've delayed development or endorsement of a solution for Millennium Corporate members and AIM clients.

AIM recommends credit unions wait, if possible, before making a financial commitment to a CECL solution until such time as more regulatory guidance is available. As seen with yet another implementation delay, the CECL initiative is fluid and may end up markedly different than what it is today.

Please email aim@aimcusolutions.org with CECL questions or concerns.

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