Search
 

Trades Ask NCUA to Dial Back NCUSIF Equity Level

CUNA has written NCUA Board Chairman Debbie Matz to ask the agency to temporarily reduce the normal operating level for the NCUSIF from 1.3% of insured shares to 1.2%.

By David Morrison | Updated on March 04, 2010

CUNA has written NCUA Board Chairman Debbie Matz to ask the agency to temporarily reduce the normal operating level for the NCUSIF from 1.3% of insured shares to 1.2%.

“CUNA is proposing that NCUA take steps that will help credit unions mitigate and manage their insurance costs, wrote CUNA CEO Dan Mica. “One is to reduce temporarily the normal operating level of the NCUSIF from the current 1.3% to no lower than 1.2%, the floor established for the Fund in the FCU Act. While insured credit unions must maintain a deposit with the NCUSIF equal to 1% of their insured shares, slightly reducing the target level for the Fund’s retained earnings will potentially reduce credit unions’ insurance payments over the next few years,” he wrote.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

NOT FOR REPRINT

© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

 

Recommended Stories

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2023 ALM Global, LLC. All Rights Reserved.