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.
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.
NCUA says plan proposed Thursday came from requests from credit union executives.
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.
It was a shock and it was unprecedented. The NCUA hammer brought down on the legacy assets held by the corporate system during 2010 caused it to reel as never before.
When doing the first major overhaul of corporate credit unions in eight years, the NCUA covered the regulatory waterfront.
After a brief hiatus for the week of Thanksgiving, Credit Union Times ON AIR came back strong with an episode dedicated to the NCUA's corporate legacy asset plan.
Though it has not said it in writing, the NCUA is asking credit unions to make decisions on corporate credit unions by the first part of next year.
A month or so ago I was asked to do another Q&A session for the Metropolitan Area Credit Union Management Association, but after I agreed I was told that the NCUA, which was to have a representative on a panel regarding the