ALEXANDRIA, Va. — The NCUA board approved a $236.8 million budget for the agency next year, a 5.1% increase from 2011.
This article will be among the news, features, analysis and insight filling the pages of the next print edition of Credit Union Times.
ALEXANDRIA, Va. — Because of the credit union system’s financial health, the NCUA is lowering the NCUSIF’s reserve balance from $1.2 billion to $871 million.
Chairman Debbie Matz has said to expect corporate rescue assessment of 8 to 11 basis points.
The NCUSIF’s equity ratio remained at 1.31% for the third consecutive month in September, according to a report to the NCUA board by the agency’s chief financial officer Mary Ann Woodson at its Oct. 27 meeting.
Agency reports at monthly meeting that percentage of shares in problem CUs continues to drop.
ALEXANDRIA, Va. — If current financial trends continue, the NCUSIF's equity ratio will likely end the year at between 1.28% and 1.32%, which could mean a lower assessment to pay for the corporate credit union rescue, NCUA Chief Financial Officer Mary Ann Woodson told the agency's board last Thursday.
The NCUSIF's equity ratio will likely end 2011 at between 1.28% and 1.32% and possibly lower assessments for corporate rescues could follow.
More of the costs left over from failed corporate credit unions will hit most existing credit unions in late September. The NCUA Board approved assessing federally insured credit unions an additional 25 basis points of insured shares to help foot the bill for the Temporary Corporate Credit Union Stabilization Fund.
The NCUA board decided that keeping track of the bonds it has issued as part of the corporate stabilization effort has grown so complex that the agency has decided to hire a committee to oversee it.