NCUA board held its monthly meeting to discuss distribution from the closure of the Temporary Corporate Credit Union Stabilization fund today. Last year NCUA closed the fund and merged it with the National Credit Union Share Insurance Fund.
“We are closely reviewing the details of NCUA’s plan for share insurance fund equity distributions for credit unions in 2018,” said CUNA President/CEO Jim Nussle. “As the only national trade association that advocated for refunds to start this year, CUNA and the leagues were instrumental in getting credit unions those funds, which can be put to work on behalf of members.”
CUNA supports a transparent and equitable method for repaying credit unions, and outlined a potential methodology for NCUA in its September comment letter on the proposed closure.