WASHINGTON – CUNA President/CEO Dan Mica released a statement this morning questioning the NCUA's plan to raise share insurance premiums on natural person credit unions to pay for a $1 billion capital injection for U.S. Central via the NCUSIF.
"While CUNA does not welcome this plan by NCUA forcing credit unions to pay such a high price, we do understand the need for the agency to act," Mica said. "However, we also believe the agency must consider other solutions to mitigate the costs on credit unions during these difficult economic times."
Mica said CUNA feels that "other choices can and must be explored, immediately, to mitigate the impact on credit unions."
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CUNA's Corporate Task Force met in Washington yesterday, discussing concerns with the agency and drumming up alternatives. Mica said he hopes the NCUA will consider these additional options.
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