WORTH NOTING

Published August 29, 2008, 12:11 p.m. EDT

Updated August 27, 2020, 1:04 a.m. EDT

2 Min Read

CFO Council Releases White Papers

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MADISON, Wis.-Testing strategic financial goals and analyzing credit union financial ratios are the subjects of two new white papers from the CUNA Chief Financial Officers (CFO) Council. "Testing a Strategic Financial Vision: Using a Simple Financial Planning Model" explains how to test a CU's strategic financial goals over an extended period. Using a simulation model that creates future balance sheets, income statements, and ratios, the paper focuses on capturing key financial aspects of the plan in a strategic financial vision.

The second white paper, "Credit Union Financial Ratios: Twenty-Plus Years of Data and Analysis," explains what can be garnered by analyzing financial ratios over a 22-year period. It examines the conclusions that can be made about financial changes, impacts of competition, changed regulation, and the basic safety, soundness, and competitiveness of the industry.

For info: www.cuna.coop.

Dow Louisiana Gets Phlashy

PLAQUEMINE, La.-Dow Louisiana FCU has hired Phlash Phelps, a well-known personality from XM Satellite Radio, as its new voice. "Phlash is dynamic, likable and definitely comfortable with all things media, so it will be no surprise his voice and personality will capture the attention of our existing and potential members," said DLFCU CEO Jeff Hendrickson.

Free State CU Announces Merger

LAWRENCE, Kan.-The $9-million Free State Credit Union and the $200-million Credit Union of Johnson County have announced plans to merge. Free State reported a $480,000 in losses for the first six months of the year and ongoing problems in delinquent loans.

LAFCU Named Best Place To Work

LOS ANGELES-Los Angeles Firemen's CU has been named one of the Best Places to Work by the Los Angeles Business Journal. This countywide survey and awards program was designed to identify, recognize and honor the best places of employment in Los Angeles County, benefiting the region's economy, its workforce and businesses.

For info: www.BestPlacestoWorkLA.com.

FASB Completes Codification

WASHINGTON-The Financial Accounting Standards Board (FASB) has announced the completion of the Business Combinations Topic to the FASB Accounting Standards Codification. The release is part of FASB's huge effort to codify thousands of U.S. GAAP pronouncements into approximately 90 accounting topics. For credit unions, the release is especially important when considering and completing mergers.