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Senate Passes Corporate Stabilization Fund

The Senate today passed a bill that includes provisions for a stabilization fund that would enable credit unions to spread out the cost of replenishing the NCUSIF over seven years. The vote was 91-5.

By Claude R. Marx | Updated on May 05, 2009

The Senate today passed a bill that includes provisions for a stabilization fund that would enable credit unions to spread out the cost of replenishing the NCUSIF over seven years. The vote was 91-5.

The fund, to be financed by a line of credit from the Treasury Department, would pay back the Treasury Department over seven years and natural person credit unions would pay the additional premium to the NCUSIF over that time period.

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