CHICAGO -- Credit unions should be safe budgeting for a 15 to 30 basis point NCUSIF stabilization assessment in 2010, NCUA Board Member Gigi Hyland told her AICPA National Conference on Credit Unions audience here this afternoon.
Hyland stressed the number is only an estimate to assist budgeting credit unions, and said the actual amount and assessment date have not yet been determined. The NCUA board should be able to provide more information during next month's meeting, she said.
The keynote speaker also urged credit unions to provide feedback to the NCUA after it releases its proposed regulatory changes to corporates, expected during November's board meeting.
The new rules could alter the way the credit union system functions forever, Hyland said. She called corporate regulatory reform "one of the most critical projects I've ever worked on."
"Your comments will be essential in formulating a plan going forward," she said.
