The agency's budget has grown dramatically over the past several years, sucking up nearly all the profit the NCUSIF
made investing the premiums paid into it by credit union member since its creation in 1980.
The Act clearly says the only thing the NCUA can do with excess stabilization funds is merge it with the NCUSIF
Further, unlike the other investors seeking to recover funds from AB&C for their personal benefit, the Liquidating Agent is performing a public function in accordance with all powers afforded it under the FCUA to minimize the loss to the NCUSIF
Instead, they should engage in forward thinking to address new challenges and threats to the NCUSIF
and the community;
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
Treasury has a long-held agenda that includes reforming, and restructuring, the NCUSIF
is backed by the full faith and credit of the United States government.
The compromise was so sweeping that state charter without any restrictions but with NCUSIF
coverage suddenly were handcuffed from growing this valuable part of their future.
The second sentence of Heather Anderson's column in the April 15 issue of Credit Union Times ("Oh, the Irony: The NCUA, NCUSIF
& Alabama One") should be enough to frighten every credit union leader into submitting a comment letter on the proposed risk-based rule -- before the April 27 deadline.
enters the second half of 2008 secure and well-capitalized.
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.
Lifting the NCUSIF
Equity Ratio Cap: Poll: What do you think about the NCUA seeking an NCUSIF
equity ratio increase?