WDA have extensive experience in completing Loan Book Reviews for the Credit Union Sector.
We have developed a bespoke reporting system, which ensures the engagement is completed to the highest possible standard.
We cater for all types of Credit Unions, Community, Rural and Industrial, with assets ranging from €10m – €300m.
Should you require a Loan Book Review at the direction of the Central Bank or the Board decides to implement a voluntary review, WDA have the resources, experience and expertise to complete this engagement.
We produce a comprehensive tender document for the Boards consideration, which reproduces the exact terms set-out in the Central Bank letter so there is absolutely no ambiguity to the scope of the engagement.
All professional fees are agreed between WDA and the Credit Union prior to the commencement of the engagement at mutually agreeable levels, so there is no hidden surprises or overruns.
All dates are agreed with the Credit Union to ensure the report is delivered in a timely manner. Once we have completed our onsite work, we draft the report based on our findings and then present same to the Board for their consideration and opinions. We have found that in our experience this is an extremely important part of the reporting process. Upon completion of the final draft of the Loan Book Review, our report is hand delivered to the Central Bank office. In addition to this, bound hard copies together with a softcopy of the report are issued to the Credit Union.
In our opinion the Loan Book Review process should not be seen as another layer of compliance and regulation, but instead a vital tool that all Credit Unions should carry out to ensure the health of their biggest asset i.e. your Loan Book. Annual Independent Loan Book reviews should be considered good Corporate Governance for all Credit Unions.
The fact that the review has been carried out by independant external professional advisers such as WDA will ensure there are no hidden surprises to the Board, the Members and the Central Bank.
Should you require additional information or a quotation please call us on 01 6771411 or email email@example.com