This bailout will actually hurt us, as our insurance premiums to the NCUSIF
will increase approximately $7.
Significantly, the adoption of a small entity asset threshold of $550 million, together with a thoughtful, thoroughly vetted three-tier regulatory system, will not undermine or limit the work of the NCUA's Office of Small Credit Union Initiatives or pose a threat to the NCUSIF
The NCUA, the NCUSIF
and the Temporary Corporate Credit Union Stabilization Fund are separate eggs held in the same inseparable deposit insurance basket.
But a review of the NCUSIF
audit should give pause about that assumption.
First out of the gate on April 6 was the release of an NCUA white paper advocating for an expanded NCUSIF
with a risk-based premium structure.
is backed by the full faith and credit of the United States government.
Lifting the NCUSIF
Equity Ratio Cap: Poll: What do you think about the NCUA seeking an NCUSIF
equity ratio increase?
Earlier this week, an NCUA 2013 White Paper, "National Credit Union Share Insurance Fund (NCUSIF
) Improvements," was released to the public outlining the agency's legislative pursuit for broadening its authority to administer the NCUSIF
enters the second half of 2008 secure and well-capitalized.
The NCUA will ask Congress to rewrite the Federal Credit Union Act so it can establish a risk-based NCUSIF
premium system and eliminate the 1.
The bill, shown below (click to expand), would require the GAO to review the NCUA's annual operating budget and the NCUSIF
, corporate stabilization fund and Central Liquidity Facility.
NAFCU disagrees with the NCUA's reliance on an anomaly, such as a CUSO causing a loss to the NCUSIF
, to justify an expensive regulatory regime that will not result in a safer or more sound system.