The NCUA plans to issue projections for the range of costs to credit unions next year for shoring up NCUSIF and repaying part of the Treasury Department's loan to the Temporary Corporate Credit Union Stabilization Fund at its Nov. 18 meeting.

The agency won't announce the actual amounts until next year but is giving credit unions the range so they can make plans and set aside funds, according to agency officials. For this year, the agency projected between 15 and 40 basis points and combined assessment turned out to be 25.8 basis points. The premium for the NCUSIF was 13.4 basis points and the assessment for the corporate credit unions was 12.4 basis points.

The projections are scheduled to be announced after the board hears a report from NCUA CFO Mary Ann Woodson about the health of the NCUSIF and the Corporate Stabilization Fund.

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:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
NOT FOR REPRINT

© 2024 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.