Credit Unions Group

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Cottrill Arbutina's Credit Unions Group provides audit and management consulting to four of the top 10 credit unions in the Western Pennsylvania region as ranked by asset size in the Pittsburgh Business Times. The firm also serves the savings and loan field.

Among Cottrill Arbutina’s specialty engagements are credit union mergers, supervisory committee audits, bank secrecy act audits, automatic clearing house audits and fraud investigations. The firm’s clients range in size from $180 million to $2 million in assets.

In the wake of the downturn of the nation’s economy, and with credit unions facing significant assaults on their capitalization, and tighter-than-ever reins on prospective mergers, Cottrill Arbutina’s team closely monitors the constantly changing rules of the industry’s regulatory body, the National Credit Union Administration.  Members of the firm’s team, some with more than three decades of credit union experience, regularly attend annual credit union conferences held by the American Institute of Certified Public Accountants (AICPA).

Cottrill Arbutina’s professionals have provided audits and advisory services for 15 credit union mergers, with a thorough knowledge of regulatory reporting, generally accepted accounting procedures (GAAP) reporting and audit entries.  In the area of supervisory committees, team members have worked both in-house and as outside advisors, allowing them the perspective of seeing both sides of an audit.

Another benefit that Cottrill Arbutina provides during client audit procedures is that clients receive a detailed letter containing expert recommendations on how to improve or enhance their internal control systems.

The firm also provides contracted internal auditor services for credit unions that are not large enough to warrant full-time staff.  This not only provides clients with the benefit of continuity but also the specialized industry expertise available at all times.

In the area of tax reporting, Cottrill Arbutina assists clients with preparation of their Form 990 tax returns to the Internal Revenue Service.

Cottrill Arbutina provides additional value to clients with detailed, easy-to-understand reports on how the clients rank versus their industry competitors.  The categories range from capitalization ratios, total debt issues figures and delinquency ratios to allowance for loss ratios, gross spread versus net spread ratios, and total executive compensation as a percentage of expenditures.

For more, contact shareholder P. Joel Martin, CPA.