AUSTIN, Texas -- Led by CUNA, credit unions and their leaguesfired up a vigorous public and insider campaign voicing loudopposition to NCUA's corporate rescue plan that would imposepainful assessments on CUs via NCUSIF.
Taking note of industry "shock and anger" over the stabilizationplan, the president/CEO of the Texas Credit Union League, RichardEnsweiler, said that following a member survey his trade groupremains "highly concerned" about the proposal and is acting swiftlyto assess the impact. The TCUL board was slated to meet today "todiscuss" the NCUA program.
In a message to its members, TCUL said it also "has learned fromNCUA that an accounting memorandum will be issued this week thatwill outline how the proposed assessment would be reflected incredit union income/loss statements and balance."
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