Spreadsheets have long been the backbone of accounting in credit unions. Flexible, familiar, and low cost, they have allowed finance teams to manage accounts, reconcile data, and produce reports without relying on complex IT systems.
Seven years, countless conversations, and one incredible community.
It’s hard to believe but we are approaching the 2-year mark since the CARES act launched the Paycheck Protection Program as a means to address the threat of economic harm to small businesses and their employees resulting from the COVID-19 pandemic.
A pretty brutal forecast for lenders coming off two great years. 2023 and 2024 are also forecast down 35% from 2021/2020. The world has clearly changed. So how do you build a resilient business model that remains profitable in 2022 and beyond?
As Carl kindly put it when we proposed this topic, he plans to watch paint dry instead of reading this in any detail! But heading into year end and audit season, lenders need to plan for this important issue.
One of these statements is crazy, and both can be fact-checked. Checking one requires a plane ride or ocean gazing, while the other requires a comparison of liquidity between two periods.
You probably heard this advice. Recently, a client asked me to explain this advice in detail. Here it goes: Working on the business, not just in it, can change everything for you.
As it looks like it might actually now happen, we thought it was a good time to revisit an article we wrote back in 2019, which delved into some pretty significant accounting regulation changes which could affect all mortgage banks, but especially branch heavy retail lenders.
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