Credit unions probably won’t have to pay a premium for the NCUSIF, but the NCUA is still trying to encourage them to part with more of their money.
With 115,000 new jobs and Chrysler’s $7.5 billion recent loan repayment to the government, the White House is encouraged by the auto industry’s comeback.
Credit union executives spent the first week after the NCUA unveiled its corporate credit union prepayment plan studying it and reserving judgment.
If current trends hold, the NCUA isn’t likely to have to levy a premium to shore up the NCUSIF this year, and if there is sufficient participation in the prepayment plan, assessments to repay the corporate credit union rescue could be reduced.
ALEXANDRIA, Va. — Credit unions could prepay between $10,000 and 36 basis points of insured shares toward their assessments to pay the costs of the rescue of corporate credit unions under a proposal announced at the May 19 NCUA board meeting.
ALEXANDRIA, Va. — Credit unions could prepay between $10,000 and 36 basis points of insured shares toward their assessments to pay the costs of the rescue of corporate credit unions, the NCUA proposed Thursday.
If credit unions were subject to income taxes, they would lose a key part of what makes them unique, but experts are divided as to whether it would create a stampede of bank conversions.
Washington consultancy has issued a report recommending the Treasury Department host regulatory duties now handled by the NCUA.
The NCUA board on April 21 approved a final corporate credit rule that left out two controversial provisions.
Compliance burdens are piling up, CUNA notes in request to Fed to delay June 16 imposition of new rules.