The NCUA announced at its July board meeting that credit unions’assessment for the Temporary Corporate Credit Union StabilizationFund would be a mere eight basis points. The total bill for creditunions comes to $701 million, or approximately $100,000 on averageper credit union, for 2013. It’s the lowest level it’s been sincethe inception of the TCCUSF.

At the same time, the NCUA touted cutting $2.5 million from itsbudget, saving credit unions about $400 on average. The positivespin does not come close to outweighing the negative, but it’s astart.

While credit unions are having to lay employees off or cut backtheir hours, or even cut member services to hit their numbers, theNCUA added yet another employee this year. It has an endless supplyof funding: your credit union’s money. And if that’s not enough,it’s backed by the full faith and credit of the federalgovernment.