Credit unions in a range of sizes mostly indicated a general willingness to participate in the NCUA’s corporate credit union assessment prepayment plan. But some said they wanted more information on, or modifications to, the proposal.
SAN ANTONIO — The NCUA and other regulators are over regulating to prevent another financial crisis, and CUNA is trying to push back to give credit unions more autonomy. That was the message of CUNA's top executives during a panel discussion at America's Credit Union Conference.
'Golden parachutes' for executives, low-income status measuring tools also on agenda.
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.
NCUA Inspector General quietly reports corporate losses, says others expected to be "much higher still."
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.
The financial statements of the NCUA’s four main funds are presented fairly, but there are serious difficulties in the agency’s financial accounting, according to an independent audit released on May 16.
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.