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Join us! 
RKL's Credit Union Seminar

RiverCrest Golf Club and Preserve
100 Rivercrest Drive
Phoenixville, PA 19460

Wednesday, November 1, 2023 
8 a.m. - 3:45 p.m.
Fee to attend: $150

Join us for the RKL Credit Union Seminar and hear from RKL team members and other industry professionals on the latest accounting, legal, compliance and risk management concerns affecting credit unions. Gain tips for overcoming challenges, mitigating risk and maximizing growth opportunities. 

Earn up to six CPE credits and enjoy networking opportunities with your peers and RKL's professional team.


8 - 8:50 a.m. – Registration, networking and hot breakfast buffet

8:50 - 9 a.m. – RKL welcome, Barry Pelagatti, RKL

9 - 10 a.m. –  Inflection Points, Market Shifts Create Outsized Opportunities for 2023 and Beyond, presented by Lee Wetherington, Senior Director of Corporate Strategy, Jack Henry (1 Business Management & Organization CPE credit)

2022 produced a cascade of inflection points that require significant adjustments in the operation and management of your credit union. Record-breaking inflation led to rapidly rising interest rates, reduced loan demand and declining deposits. In 2022, total deposits in the U.S. experienced their first sustained fall in 80 years. And as consumers chase ever higher rates in 2023, deposit churn will accelerate. While the instinctive response to an economic downturn is one of withdrawal and retrenchment, credit unions are uniquely positioned to lean on their risk competence, capital reserves and compliance rigor to tap outsized upside potential while less experienced, unchartered, and poorly capitalized competitors struggle. Join Lee to look at the lowest-hanging opportunities now. 

Attendees of this session will be able to:

  • Recognize the easiest growth opportunities to implement
  • Interpret the data to make informed operational and management adjustments to better your credit union's financial position

10 - 10:50 a.m. - Compliance Update, presented by Mark Wolfrey, Senior Manager, RKL and Juliya Greenfield, Principal, RKL (1 Auditing CPE Credit)

The New Interagency Guidance on Third-Party Relationships: Risk Management

The FRB, FDIC, and OCC have jointly developed updated guidance on managing risks associated with third-party relationships. This comprehensive guidance expands upon the 2007 NCUA Supervisory Letter on "Evaluating Third-Party Relationships." As your credit union engages with FinTechs and other services to expand and accelerate its client and product diversity, it is essential to understand and mitigate the risk.

Attendees of this session will be able to:

  • Recognize the risk management principles and expectations your institutions need to consider for third-party relationships
  • Interpret the guidance to make better-informed client and product diversity decisions
  • Strengthen your Third Party Risk Management Program for current and new vendors for all stages of the relationship

Small Business Lending Rule - "1071 Data Collection"

On March 30, 2023, the Consumer Financial Protection Bureau (CFPB) published its long-awaited final rule amending Regulation B to implement changes made by section 1071 of the Dodd-Frank Act. If applicable, credit unions will be required to collect and report to the CFPB data on applications for credit for small businesses, including those owned by women or minorities. As your credit union prepares for compliance, it is important to understand the requirements of this data collection.

Attendees of this session will be able to:

  • Determine the applicability and effective date of the rule according to the compliance date tiers
  • Recognize the data fields required to be collected and reported
  • Interpret the additional requirements of this rule regarding the firewall and record retention

10:50 - 11:10 a.m. - Break

11:10 a.m. - 12 p.m.Updates in the Use of §701.19 and §721 Authority: Generating Member Growth, Reviewing New Risks, and Repositioning Investments, presented by John Moreno, Managing Partner, Newcleus Credit Union Advisors (1 Economics CPE Credit)

Credit unions are managing through one of the most difficult environments in history. In this session, we will review how credit unions are adapting to higher rates in the construction of deferred compensation arrangements, utilizing advanced strategies for relieving unrealized losses on investment portfolios and expanding membership through the innovative use of charitable giving initiatives (CDAs).

Attendees of this session will be able to:

  • Recognize how current higher rates could negatively impact existing deferred compensation plans and what credit unions are doing in response to the current environment
  • Approximate the potential impact of stable value AOCI remediation
  • Provide insight using CDAs to enhance membership growth and penetration to their credit union

12 - 1 p.m. – Lunch

1 - 1:50 p.m. Escalating Information Technology Risks: Real Implications and the Effect on Your Credit Union, presented by Michael McAllister, Partner, RKL (1 Information Technology CPE credit)

Information Technology (IT) threats are everywhere, and the devastating consequences are constantly in the news. Yet most companies underestimate their risk potential and aren't sure what to do if an IT issue occurs. This session will discuss the ever-changing landscape of IT risks credit unions face and provide practical guidance to focus on areas of highest risks, as not all risks are equal. 

Attendees of this session will be able to:

  • Recognize the existence of a potential IT risk and how to gauge its potential impact
  • Implement practicable controls to reduce the level of potential risks associated with an IT control failure

1:50 - 2 p.m. – Break

2 - 2:50 p.m. Current Legal and Regulatory Issues Facing Credit Unions, presented by Christopher Pippett, Partner, Fox Rothschild LLP  (1 Business Law CPE credit)

This session will discuss the most common legal and regulatory issues faced by credit unions, including addressing NCUA Supervisory priorities, board/executive management relations, succession planning for executives and boards, internal fraud, continued class action litigation and problems arising in the course of a regulatory examination or a governmental investigation.

Attendees of this session will be able to:

  • Implement necessary steps to address NCUA Supervisory priorities
  • Determine the appropriate course of action to take during a regulatory examination or governmental investigation

2:50 - 3:40 p.m. Accounting and Auditing Update for Credit Unions, presented by Barry Pelagatti, Partner, RKL (1 Accounting CPE credit)

With CECL finally in the rearview mirror,  the time has come to focus on fundamentals. This year’s session will highlight areas that may have been neglected, such as CECL disclosures, OTTI considerations in a rising rate environment, Leases, and GAAP accounting for Employee Retention Tax Credit (ERTC). In addition, attendees will be allowed to submit questions before the session for open discussion as we close out the program. 

Attendees of this session will be able to:

  • Recognize OTTI considerations as interest rates continue to rise
  • Identify GAAP accounting methods for ERTC

3:40 p.m. – Closing remarks

Questions? Email

Register for RKL's Credit Union Seminar


  • CPE: Earn up to six hours of CPE credits in the fields of Business Management & Organization (1), Accounting (1), Auditing (1), Economics (1), Information Technology (1), and Business Law (1).
  • Cancellations: Cancellations are requested by October 20, 2023.
  • Refunds: Refunds will be issued to those submitting a written cancellation to Lindsey Chretien at no later than October 20, 2023. No other refunds will be issued, including for "no-shows".
  • Prerequisites: None | Advanced Preparation: None | Program Level: Basic | Delivery Method: Group-Live 

For information regarding our complaint policy, contact RKL’s HR department at 717.394.5666. RKL is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have the final authority on the acceptance of individual courses for CPE Credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website,