The NCUA board on Feb. 15 approved a pro rata distribution of $735,678,797 to eligible credit unions – funds that are available as a result of the closing of the corporate stabilization fund.
"We have excess funds," Board Chairman J. Mark McWatters said as the board adopted a formula for the distribution. "That's a good story to tell."
"The check may not be in the mail yet, but it's on the way," Board Member Rick Metsger said.
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