2017 Excellence in Finance Award Winner
2017 Award Recipient
Dan Leclerc, VP Finance at ENT Credit Union accepts their 2017 Excellence in Finance Award.
Ent Credit Union, Colorado Springs, Colo. received the Excellence in Finance Award for their Achieving Consistently Strong Financial Performance While Generating Additional Income and Managing Interest Rate Risk entry.
Ent’s finance and accounting team is a critical internal partner for the credit union, helping the organization manage the ups and downs of the market to deliver consistently strong year-over-year financial performance. In 2016, Ent generated a Return On Average Assets (ROAA) of 1.24%, marking the credit union’s eighth year with an ROAA over 1%. The credit union’s net worth grew to 12.88% by the end of 2016 even after giving just under $31 million back to the membership in the last 5 years. Interest Rate Risk (IRR), as measured by Net Economic Value (NEV) volatility remains low at -15.85% in a +300 basis point rate environment.
Dan Leclerc, Vice President of Finance and his team have achieved these results through the implementation and management of sophisticated strategies to reduce risk and add to the organization’s bottom line. Examples of these strategies include the use of derivatives for overall balance sheet risk management, hedging the mortgage pipeline, dollar rolls and a recently implemented arbitrage strategy involving borrowing from the FHLB.
Ent Credit Union’s finance and accounting team is a group of individuals dedicated to digging in and implementing balance sheet strategies that have produced consistently strong, positive outcomes for the credit union. The financial results for 2016 go far in demonstrating the success of this high functioning team. Today they are recognized because of their layered strategic approach and consistently strong performance.
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