The NCUA board may vote in June to separate corporate credit union assessments from those that cover natural person credit union losses.
Chairman Debbie Matz told Wisconsin Credit Union League members this morning the move would help improve NCUA transparency and budgeting accuracy for credit unions.
"This separation would not increase the total amount of payments," Matz told approximately 500 who had gathered in Green Bay for the league's annual convention. "It would clarify exactly what each payment is for: The Share Insurance Fund assessment covers losses at natural-person credit unions, and the Corporate Stabilization Fund assessment covers losses at corporate credit unions."
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Matz also addressed "speculation" over NCUA's delay in releasing its 2008 and 2009 audits, saying the delay "is in no way related to the health of the National Credit Union Share Insurance Fund." Rather, she cited indecision over whether new accounting rules "governing the presentation of commercial financial statements" apply to federal regulators.
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