ALEXANDRIA, Va. — The NCUA Board sought to take the agency a couple of more steps in the directions of transparency and plain language at its Dec. 14 board meeting.

The board approved a draft of its next strategic plan written purposefully in plain language and revealed the process it uses to set the NCUSIF's normal operating level.

The NCUSIF's normal operating level is the equity ratio the fund must maintain in order to insure the deposits of credit union members ate federally insured institutions. By law and the agency's regulations, the level cannot fall to below 1.20% and cannot be allowed to rise above 1.5%.

In making NOL move, the Board expressed optimism that the increased transparency would help credit unions better understand and even predict whether a premium or dividend might be in their future for a given year. But credit union economists on hand for the meeting expressed doubt whether this would be the case.

"Whenever an agency steps out to do things in a more transparent way, that is a good thing," said Tun Wai, NAFCU's Chief Economist. "But in looking over the document here today, there is really not enough information for a credit union to be able to really know what the agency is going to do."

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