Here's a news flash: The NCUA's annual budget is a sound investment by credit unions to protect their bottom lines.
By paying $48 million in NCUA budget increases in 2010 and 2011, the industry was spared $1.5 billion in losses to the National Credit Union Share Insurance Fund.
When the economic crisis hit America full force, the percentage of shares in credit unions rated CAMEL 3, 4, or 5 quadrupled from the 5% historical norm to more than 20%–and nearly 2,200 credit unions had significant problems. Several billion-dollar credit unions were on the verge of failing.
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