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members of the NCUA Board on video for the virtual board meeting. NCUA virtual Board Meeting, May 20, 2021.

On Thursday, NCUA board members received their quarterly status update of the Share Insurance Fund from agency officials, who reported the projected equity ratio to sit six basis points below Normal Operating Level at 1.22% by June 30, 2021. As of the end of the first quarter, the SIF had a net income of $67 million.

The board meeting, held for the first time as a video conference, was also the first time the members had seen each other in more than a year. While virtually face-to-face, in reality board members face some potentially tough decisions in the near future when it comes to charging credit unions a premium to help increase reserves.

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Michael Ogden

Editor-in-Chief for CU Times.

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