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.
Agency board told Monday that losses may not be as large as originally projected.
ALEXANDRIA, Va. — CUSOs would have to submit financial reports to the NCUA and there would be limits on the investments certain credit unions can make in CUSOs, according to a proposed rule the NCUA sent out for comment on July 21.
ALEXANDRIA, Va. — Fewer credit union shares are in troubled credit unions, the NCUA reported Thursday.
ALEXANDRIA, Va. — The percentage of insured shares in credit unions rated CAMEL 3 or above declined slightly last month, the NCUA reported Friday.
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. — While CAMEL 4 and 5 CUs increased, the percentage of total shares declined, the agency's CFO said Thursday.
Golden parachute ban, advertising rules and insurance fund prepay options all on agenday for next week's NCUA board meeting.
The NCUA board on April 21 approved a final corporate credit rule that left out two controversial provisions.
Agency board also told at Thursday's meeting that NCUSIF net income for first quarter was $29.6 million, with $1.1 billion in reserve.