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NCUA Board Lowers SIF Normal Operating Level, Passes 2022-2023 Budget

The Share Insurance Fund normal operating level drops from 1.38% to 1.33%.

NCUA official seal NCUA official seal. (Source: NCUA)

During its final meeting of the year, NCUA board members had some heavy lifting to accomplish before the holiday break. In the three-hour meeting, board members voted to lower the Share Insurance Fund’s Normal Operating Level (NOL) from 1.38% to 1.33% in 2022.

NCUA Board Chairman Todd Harper recognized that many people in the industry would like to see the NOL drop even more to 1.30%, which was where the NOL historically has been. “In normal times, that might make sense. However, there is nothing normal about what we have all experienced for nearly two years because of the COVID-19 pandemic,” he said.

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Michael Ogden

Michael Ogden

Editor-in-Chief for CU Times.

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