The National Credit Union Administration released the September 2024 update of its Simplified CECL Tool today. The update provides the latest life-of-loan—or Weighted Average Remaining Maturity—factors, and includes refinements on the factors for unsecured credit cards loans, payday alternative loans, and leases receivable.

For credit unions currently using the Simplified CECL Tool, the September 2024 release is provided to determine the credit loss expense—or provision for credit losses—for the period that ends September 30, 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 enable stronger feedback 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 implements quarterly updates to enable credit unions to use the Tool before their books are closed and their quarterly NCUA Call Report is submitted.