NCUA official seal. (Source: NCUA)
The NCUA announced Tuesday that this week, it will pay dividends to more than 5,500 institutions eligible for the $160.1 million distribution from the Share Insurance Fund.
"Prudent actions by the NCUA Board and the agency's successful stewardship of the Share Insurance Fund made this distribution possible," NCUA Board Chairman Rodney Hood said.
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Statements were mailed to institutions eligible for the distribution, the agency said. An institution that filed a quarterly Call Report as a federally insured credit union for at least one reporting period will be eligible for the pro rata distribution, the agency said.
The NCUA board approved the dividend in March, following a report that the agency's equity ratio was 1.39% at the end of 2018, higher than the board's normal operating level of 1.38%.
The equity distribution was the second since the Temporary Corporate Credit Union Stabilization Fund was merged with the Share Insurance Fund.
NAFCU officials have said that the agency's normal operating level should be set at 1.3%, which would have allowed a larger distribution.
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