Credit unions with share deposits primarily insured by the Dublin, Ohio-based American Share Insurance will not pay a special premium assessment in 2014, according to a Aug. 28 release from the private insurer.

That determination was made Aug. 20 by the ASI board of directors during the group's regular meeting, President/CEO Dennis Adams said.

"After reviewing the company's favorable results to date – and as forecasted for the balance of the year – the board concluded that the SPA collected in 2009 through 2013 would not be necessary in 2014," Adams said in the release. "The company's partial recoveries this year from its $26.4 million in capital assistance afforded Silver State Schools Credit Union, will contribute greatly to the company's bottom line in 2014."

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

  • Critical CUTimes.com 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 Law.com and GlobeSt.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.