Assessments: NCUA Predicts 8 to 10 Basis Points
Credit unions should set aside between 8 and 11 basis points for next year’s assessment to pay for the corporate credit union rescue, NCUA Chairman Debbie Matz advised last week.
During a Nov. 9 webcast, she also announced that the assessment for the NCUSIF will be between 0 and 7 basis points for the NCUSIF, but the agency hopes there won’t have to be any.
She estimated that the additional exams saved the insurance fund approximately $1.5 billion because agency staff members were able to catch some of the problems facing credit unions earlier. This avoided the agency having to close more credit unions.
In response to a question, she said the agency has no plans in the near future to allow CAMEL 1 and 2 credit unions to be examined every 18 months, which both CUNA and NAFCU have pushed for.