Recent announcements and actions of the U.S. Central Federal Credit Union and the National Credit Union Administration, along with other economic events, have indicated the need for credit unions to evaluate their National Credit Union Share Insurance Fund deposits and their investments in corporate credit unions for impairment. Certain accounting issues posed by these announcements and actions must be addressed for the December 31, 2008 financial statements of credit unions.
McGladrey & Pullen’s National Office of Audit and Accounting has issued a summary and analysis of these issues, available in the PDF below:
Credit Unions - accounting for recent regulatory actions and financial results |
