The National Credit Union Administration released the December 2024 update of its Simplified CECL Tool today. The update provides the latest life-of-loan—or Weighted Average Remaining Maturity—factors.

For credit unions currently using the Simplified CECL Tool, the December 2024 release is provided to facilitate calculating the credit loss expense—or provision for credit losses—for the period that ends December 31, 2024.

The Simplified CECL Tool was developed primarily for small and non-complex credit unions as an option for estimating the allowance for credit losses on loans and leases. Credit unions with assets of less than $10 million may also consider using the Simplified CECL Tool, as it could provide a more accurate measure of credit losses and serve as an additional tool for loan portfolio management.

To get the latest version, please visit The Simplified CECL Tool page and click on “Download the Latest Simplified CECL Tool.” To ease your use of the Simplified CECL Tool, please review Frequently Asked Questions, the User Guide, and the Model Development Document located on The Simplified CECL Tool page.

The NCUA updates the Simplified CECL Tool quarterly to enable credit unions to use the Tool when closing their books and submitting their quarterly NCUA Call Report.

For more information on CECL, please visit our CECL Resources page.

For any questions unanswered on the CECL Resources page, please contact EIMail@ncua.gov.