2. Overview of Lending Controls 2016 - ACUIA

Overview of Lending Controls

CARRIE KENNEDY, PARTNER

ARAN LOFTUS, SENIOR MANAGER

Disclaimer

The material appearing in this presentation is for informational

purposes only and should not be construed as advice of any

kind, including, without limitation, legal, accounting, or

investment advice. This information is not intended to create,

and receipt does not constitute, a legal relationship, including,

but not limited to, an accountant©\client relationship. Although

this information may have been prepared by professionals, it

should not be used as a substitute for professional services. If

legal, accounting, investment, or other professional advice is

required, the services of a professional should be sought.

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Presentation Objectives

? Overview of credit union lending

? Identify key controls in the lending function

? Distinguish differences between major lending

programs

? Review common audit and exam findings

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Credit Union Lending Overview

It¡¯s a great time to be a credit union!

? Net income at highest point in 7 years

? CUNA compiled loan growth rates were 10.5% for

2015; best year since 20005

? Memberships up 3.5%; best year since 1984

? Net charge offs steady at 48bps

? Reportable delinquencies inching up slightly to

around 0.84% of loans

? Net worth remains strong at 10.9% for the industry

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Credit Union Lending Overview

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