Corporate Assessments on Special August NCUA Board Meeting Agenda
The NCUA announced Friday it will hold a special NCUA Board meeting on Aug. 29 when it will determine what the assessments for natural person credit unions will be to pay for this year’s portion of the rescue of the corporate credit union system.
The final number will be based on several factors, including whether there is sufficient interest in the agency’s prepayment plan. The agency says that the program has the potential to decrease the currently projected 2011 Stabilization Fund assessment by 6.4 basis points, from 24.9 to 18.5 basis points of March 31 insured shares.
The NCUA is holding a webinar on the prepayment program on July 11 and commitment agreements from credit unions are due on July 29.