#CUNACFO14

Photos: CUNA CFO Council Conference Underway

Conference draws nearly 500 attendees to Las Vegas.

May 20, 2014

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In today’s ultra-competitive landscape, CUs can no longer afford to manage their investment portfolios as merely sources of liquidity, said John Caladim, managing director, financial institutions group, for Brean Capital.



CFO Award

Bill Kennedy, CFO of Department of the Interior FCU, Washington, D.C., and a member of the CUNA CFO Council Executive Committee, accepted a Top Performance Award for the CU's high return to members. Presenting the award is Jeanne Sheahan, director of research services for CUNA. Read more about the awards.



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Watch out for “gotcha’s” on the 5300 Call Report, warned Kevin Durrance, CEO of Texans CU.
 
Defined executive benefit plans, for instance, are creating problems for many CUs because executives don’t like to share information about these plans, he told CUNA CFO Council attendees Monday.


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Interest-rate risk is a growing concern for CUs, said Howard Benz, managing director for Raymond James.



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Too many CUs focus on risk or yield alone when buying and monitoring their investment portfolios, said Chad McKeithen, managing director, depository strategies, for Duncan-Williams Inc. 
 
When buying bonds, CFOs should strive to maximize reward given their liquidity and asset/liability management needs.


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If you constantly strive for perfection, you might achieve excellence along the way, business performance expert and former Blue Angels pilot John Foley said Monday. Read more about Foley's presentation.



CFO

CUNA CFO Council Executive Committee member Bill Kennedy (center) talks shop with some vendor/partners during Sunday night’s opening reception.



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More than 50% of CUs reported “significantly improving” or “improving” local market conditions, according to a survey by McGladrey.
 
That bodes well for CUs’ allowance for loan loss accounts, said Tasha Kostick, a partner with the company.


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Too many CUs adopt “delay and pray” accounting by waiting too long to write off bad loans and  investments, said Brian Smith-Vandergriff, managing director for CNBS and a CU director.

“This doesn’t serve members well,” he said. “CUs need to recognize their losses and move forward.”



Evan Berrett

Strategy consultant Evan Berrett helped CFOs nurture their strategic acumen during a preconference session at the 2014 CUNA CFO Council Conference in Las Vegas.



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NCUA Deputy Director Tim Segerson examined some of the top regulatory topics facing CUs.



CFO

CUNA CFO Council Chair David D'Annunzio (right) and Chad McKeithen, managing director, depository strategies, for Duncan-Williams, enjoyed the first-time attendee reception Sunday evening.



CFO

“Is your birthday in September?”

That was a common question during the first-time attendees reception Sunday. Attendees including Benjamin Teske, America’s First FCU (left), and Randy Icelow, Central State CU, participated in an information scavenger hunt for fun and prizes.



CFO

Grace Webster (left) and Alicia Kortus shared key information during an ice-breaker event at the first-time attendees reception.



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James Marshall of The Cooperative Trust (left) and John Meeker, CalTech Employees FCU, shared stories Sunday night.



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Cooperative solutions are best for everybody, conference attendees agreed during the opening reception Sunday night.