ALEXANDRIA, Va. — The NCUA Board has approved an assessment of 12.42 basis points that federally insured credit unions must pay to shore up the NCUSIF, which has seen its assets drained because of losses in the credit union system.

As of Aug. 31, the equity ratio for the NCUSIF dropped to 1.176%, according to the NCUA's board action memorandum. When the fund falls below 1.2% it must publish a restoration plan in the federal register. The premium will bring the equity ratio back up to 1.3% but that's expected to decline again because of continued strains on the fund.

The board voted on the assessment at this morning's 10 a.m. ET meeting.

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

  • Critical 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 and

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.